<SEC-DOCUMENT>0001062993-19-002346.txt : 20190520
<SEC-HEADER>0001062993-19-002346.hdr.sgml : 20190520
<ACCEPTANCE-DATETIME>20190517184010
ACCESSION NUMBER:		0001062993-19-002346
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190517
FILED AS OF DATE:		20190520
DATE AS OF CHANGE:		20190517

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:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35404
		FILM NUMBER:		19837199

	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>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corp.: Form 6-K - Filed by newsfilecorp.com</TITLE>
</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><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR><B>Washington, D.C.
20549 </B></P>
<P align=center><B><FONT size=5>FORM 6-K </FONT></B></P>
<P align=center><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 <BR>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P align=center>For the month of <STRONG>May, 2019</STRONG></P>
<P align=center>Commission File Number: <U><B>001-35404 </B></U></P>
<P align=center><B><FONT size=5><U>EMX ROYALTY CORPORATION</U></FONT><BR></B>(Translation of registrant&#146;s name into English) </P>
<P align=center><B>Suite 704 </B><B>&#150;</B><B> 595 Howe Street <BR>
Vancouver,
British Columbia V6C 2T5 <BR>
<U>Canada </U></B><B><U><BR></U></B>(Address of principal
executive offices)</P>
<P align=center>Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F. </P>
<P align=center>[X] Form 20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]
Form 40-F</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&nbsp;&nbsp;&nbsp;]
</P>
<P align=center>Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&nbsp;&nbsp;&nbsp;]
</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><B><U>SUBMITTED HEREWITH</U></B></P>
<P align=justify><B><U>Exhibits:</U></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%" bgColor=#eeeeee><a href="exhibit99-1.htm">99.1 </a></TD>
    <TD bgColor=#eeeeee>
  <P align=justify><a href="exhibit99-1.htm">News Release dated May 17, 2019</a></P></TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center><B>SIGNATURES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized. </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="50%" align=left >&nbsp; </TD>
  <TD align=left colSpan=2><B>EMX ROYALTY CORPORATION<BR>
  </B></TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
  <TD align=left colSpan=2>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
  <TD align=left colSpan=2>(Registrant) </TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
  <TD align=left colSpan=2>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >Date: May 17, 2019</TD>
    <TD align=left width="8%">By: </TD>
    <TD width="42%" align=left style="BORDER-BOTTOM: #000000 1px solid">/s/ Christina Cepeliauskas</TD>
  </TR>
  <TR>
    <TD width="50%" align=left >&nbsp;</TD>
    <TD align=left width="8%">&nbsp;</TD>
    <TD align=left width="42%">&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
    <TD align=left width="8%">Name: </TD>
    <TD align=left width="42%"><p>Christina Cepeliauskas</p></TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp; </TD>
    <TD align=left width="8%">Title: </TD>
    <TD align=left width="42%">Chief Financial Officer</TD>
  </TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>EMX Royalty Corporation - Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><IMG src="emxlogo.jpg" border=0> </P>
<P align=center><B><U>NEWS RELEASE</U></B></P>
<P align=center><B>EMX Royalty Announces First </B><B>Quarter </B><B>2019
Results </B></P>
<P align=justify><B>Vancouver, British Columbia, May 17, 2019 (TSX Venture: EMX;
NYSE American: EMX) </B><B>&#150; EMX Royalty Corporation (the &#147;Company&#148; or &#147;EMX&#148;)
</B>is pleased to report results for the quarter ended March 31, 2019. The
Company's filings for the quarter are available on SEDAR at <U><FONT
color=#0000ff>www.sedar.com, </FONT></U>on the U.S. Securities and Exchange
Commission&#146;s website at <U><FONT color=#0000ff>www.sec.gov </FONT></U>and on
EMX&#146;s website at <U><FONT color=#0000ff>www.EMXroyalty.com</FONT></U>. Financial
results were prepared in accordance with International Financial Reporting
Standards, as issued by the International Accounting Standards Board, and are
expressed in Canadian dollars unless otherwise stated. </P>
<P align=justify><B>HIGHLIGHTS FOR Q1 2019 </B></P>
<P align=justify><B>Financial Update</B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>EMX had revenue of $1.4 million, loss from operations of $1 million, and
  after-tax loss of $2.8 million. Revenue includes royalty income, optioned
  property and other property income, interest, and gains on sales of properties
  and marketable securities. Other items affecting financial results in Q1
  include $0.3 million in depletion costs, and a foreign exchange loss of $1.8
  million. </P>
  <LI>
  <P>Royalty generation costs totaled $1.1 million, which is net of recoveries
  from partners totaling $0.8 million. In addition, partners incurred
  exploration expenditures totaling approximately $3.6 million that did not flow
  through to the Company's financial statements. </P>
  <LI>
  <P>General and administrative expenses totaled $1.1 million, which includes
  $0.4 million in salaries and consultants, $0.2 million in administrative
  costs, and $0.2 million in investor relations cost. </P>
  <LI>
  <P>Total cash used in operations excluding changes in non-cash working capital
  was $1.9 million<SUP>1</SUP>. </P>
  <LI>
  <P>Working capital at March 31, 2019 was $85 million, with cash comprising $78
  million. Subsequent to the quarter end, a cash payment of $2.7 million related
  to IG Copper's 2018 sale of Malmyzh was released from escrow and received.
  </P></LI></UL>
<P align=justify><B>Operational Update</B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>EMX's royalty and mineral property portfolio totals over 95 projects on
  five continents. </P>
  <LI>
  <P>In North America, EMX received approximately $323 thousand in revenue from
  the sale of 188 gold ounces from the Leeville royalty property in Nevada. EMX
  also continued to have partners (e.g., Kennecott Exploration Company, Anglo
  American Exploration (USA) Inc. and South32 USA Exploration Inc.) advance
  copper exploration programs in the southwestern U.S., incurring approximately
  $2.6 million in exploration expenditures. As a subsequent event, EMX made a
  $1.0 million strategic equity investment in Millrock Resources Inc.
  (&#147;Millrock&#148;) and acquired a significant royalty package in Alaska's Goodpaster
  District which hosts the Pogo high grade gold mine. </P>
  <LI>
  <P>In Scandinavia, the Company sold or optioned 11 projects to three different
  junior exploration companies during and subsequent to the quarter. The deals
  involved receiving share equity, advance royalty payments, and 3% NSR royalty interests in the projects.
  Boreal Metals Corp. ("Boreal") continued to advance the Gumsberg royalty
  property in Sweden and the Burfjord royalty property in Norway.
</P></LI>
  </UL>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B><I>Suite 501 &#150; 543 Granville Street, Vancouver,
      British Columbia V6C 1X8, Canada </I></B></TD></TR>
  <TR vAlign=bottom>
    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157
  </I></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><I><FONT
      color=#0000ff>www.EMXroyalty.com </FONT></I></B></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=center>2</P>
<UL style="TEXT-ALIGN: justify"><LI>
  <P>In Turkey, a 23,900 meter drill program was completed on the Bayla
  zinc-lead-silver royalty property and the operator of the Akarca gold royalty
  property is seeking additional drill permits to further assess the project
  prior to making a development decision. </P>
  <LI>
  <P>In Australia, EMX has elected to advance the Kimberley copper project as a
  100% controlled property after terminating the purchase agreement with Enfield
  Exploration Corporation. The operator of the Koonenberry royalty property
  advanced the project with drilling and geochemical sampling. </P></LI></UL>
<P align=justify><B>OUTLOOK</B></P>
<P align=justify>The Company has a strong balance sheet to further develop its
pipeline of royalty and royalty generation mineral properties. The Company ended
Q1 with working capital of $85 million, including $78 million in cash. EMX
intends to continue its organic generation of new royalty properties, while
selectively acquiring royalties and making strategic investments. A recent
example that combines both royalty acquisition and strategic investment is the
Millrock private placement, which provided share equity to EMX as well as
royalty interests in an under-explored, high grade gold district. </P>
<P align=justify>EMX is optimistic about the potential growth in revenue that
may come from our Turkish portfolio (Balya, Akarca, and Sisorta), as well as the
significant potential of our Timok Project royalties in Serbia, where the Upper
Zone high grade copper-gold development project is scheduled to commence
production in 2022.</P>
<P align=justify>EMX continues to see strong industry interest in the Company's
royalty generation properties. More than $20 million is expected to be spent by
partners advancing EMX's portfolio during 2019. A majority of this work will be
conducted in the southwestern U.S., Sweden and Norway.</P>
<P align=justify>The Company's goal is to grow its royalty generation, royalty
acquisition, and strategic investment portfolio with positive cash flow, as was
realized in 2018 with the Malmyzh sale. Revenue from royalties, advance
royalties and other pre-production cash payments has been increasing over time.
Continuing into 2019, EMX is well funded to identify new strategic investment
opportunities, while further developing a pipeline of quality royalty and
royalty generation mineral properties that provide multiple opportunities for
exploration and production success. </P>
<P align=justify><B>QUALIFIED PERSONS</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>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, Scandinavia, Serbia, and Australia.</P>
<P align=justify><SUP>1</SUP> EMX has included a performance measure in this
news release that does not have any standardized meaning prescribed by
International Financial Reporting Standards (&#147;IFRS&#148;). The Company has used the
non-IFRS measure of operating cash flows excluding changes in non-cash working
capital. This measure is calculated by adding back the decrease or subtracting
the increase in changes in non-cash working capital to or from cash provided by
(used in) operating activities. The presentation of this non-IFRS measure is
intended to provide additional information and should not be considered in
isolation or as a substitute for measures of performance prepared in accordance
with IFRS. Other companies may calculate these non-IFRS measures differently.
Note these figures have not been audited and are subject to change. </P>
<UL style="TEXT-ALIGN: justify">
</UL>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD align=center><B><I>Suite 501 &#150; 543 Granville Street, Vancouver,
      British Columbia V6C 1X8, Canada </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157 </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><I><FONT
      color=#0000ff>www.EMXroyalty.com </FONT></I></B></TD>
  </TR>
</TABLE>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A>
<P align=center>3</P>
<P align=justify><B>About EMX. </B>EMX is a precious and base metals royalty
company. EMX's investors are provided with discovery, development, and commodity
price optionality, while limiting exposure to the risks inherent to operating
companies. The Company&#146;s common shares are listed on the TSX Venture Exchange
and the NYSE American Exchange under the symbol EMX. Please see <U><FONT
color=#0000ff>www.EMXroyalty.com </FONT></U>for more information. </P>
<P align=center>-30- </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>For further information contact: </TD>
    <TD align=left width="50%" >&nbsp; </TD>
  </TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="50%" >&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>David M. Cole </TD>
    <TD align=left width="50%" >Scott Close </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>President and Chief Executive Officer </TD>
    <TD align=left width="50%" >Director of Investor Relations  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Phone: (303) 979-6666 </TD>
    <TD align=left width="50%" >Phone: (303) 973-8585 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Email: <U><FONT color=#0000ff>Dave@EMXroyalty.com
      </FONT></U></TD>
    <TD align=left width="50%" >Email:<U><FONT
      color=#0000ff>SClose@EMXroyalty.com </FONT></U></TD>
  </TR></TABLE>
<P align=justify><I>Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. </I></P>
<P align=justify><B><I>Forward-Looking Statements<BR></I></B><I>This news
release may contain &#147;forward looking statements&#148; that reflect the Company&#146;s
current expectations and projections about its future results. 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, timelines, strategic plans,
market prices for precious and base metal, or other statements that are not
statements of fact. When used in this news release, words such as &#147;estimate,&#148;
&#147;intend,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;will&#148;, &#147;believe&#148;, &#147;potential&#148; and similar
expressions are intended to identify forward-looking statements, which, by their
very nature, are not guarantees of the Company&#146;s future operational or financial
performance, and are subject to risks and uncertainties and other factors that
could cause the Company&#146;s actual results, performance, prospects or
opportunities to differ materially from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and factors may include,
but are not limited to: unavailability of financing, failure to identify
commercially viable mineral reserves, fluctuations in the market valuation for
commodities, difficulties in obtaining required approvals for the development of
a mineral project, increased regulatory compliance costs, expectations of
project funding by joint venture partners and other factors. </I></P>
<P align=justify><I>Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this news release
or as of the date otherwise specifically indicated herein. Due to risks and
uncertainties, including the risks and uncertainties identified in this news
release, and other risk factors and forward-looking statements listed in the
Company&#146;s MD&amp;A for the quarter ended March 31, 2019 (the
&#147;MD&amp;A&#148;), and the </I><I>most recently filed Form 20-F for the year ended
December 31, 2018, actual events may differ materially from current
expectations. More information about the Company, including the MD&amp;A, the
20-F and financial statements of the Company, is available on SEDAR at
</I><U><FONT color=#0000ff>www.sedar.com</FONT></U><I> and on the SEC&#146;s EDGAR
website at </I><U><FONT color=#0000ff>www.sec.gov<I>.</I></FONT></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=center><B><I>Suite 501 &#150; 543 Granville Street, Vancouver,
      British Columbia V6C 1X8, Canada </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD align=center><B><I>Tel: (604) 688-6390 Fax: (604) 688-1157 </I></B></TD>
  </TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><I><FONT
      color=#0000ff>www.EMXroyalty.com </FONT></I></B></TD>
  </TR>
</TABLE>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>emxlogo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 emxlogo.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!# ! +# X,"A .#0X2$1 3&"@:&!86
M&#$C)1TH.C,]/#DS.#= 2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!# 1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P  1" !! 2(# 2(  A$! Q$!_\0
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MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ J"YMTN
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
&4444 ?_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
