Royalty and Other Property Interests

12 Months Ended

Dec. 31, 2024

Royalty And Other Property Interests [Abstract]

Note 7 - Royalty and Other Property Interests

As at and for the year ended December 31, 2024:


	Country	December 31, 2023		Net Additions (Recoveries)		Depletion		Impairment		December 31, 2024		Historical cost		Accumulated depletion and other**
Royalty Interests
Gediktepe	Türkiye	$	29,901	$	-	$	(5,942)	$	-	$	23,959	$	43,746	$	(19,787)
Diablillos	Argentina	6,582		-		-		-		6,582		7,224		(642)
Leeville	USA	4,141		-		(424)		-		3,717		38,869		(35,152)
Chapi	Peru	-		3,404		-		-		3,404		3,404		-
Berenguela	Peru	1,828		-		-		-		1,828		2,006		(178)
Tartan Lake	Canada	914		-		-		-		914		1,003		(89)
Revelo Portfolio	Chile	401		(52)		-		-		349		401		(52)
Timok	Serbia	141		-		(2)		-		139		195		(56)
Other*	Various	2,308		(165)		-		(336)		1,807		2,216		(409)
		46,216		3,187		(6,368)		(336)		42,699		99,064		(56,365)
Other Property Interests
Perry Portfolio	Canada	498		(90)		-		(63)		345		2,199		(1,854)
Revelo Portfolio	Chile	709		52		-		-		761		761		-
Other*	Various	676		290		-		-		966		3,324		(2,358)
		1,883		252		-		(63)		2,072		6,284		(4,212)
Total		$	48,099	$	3,439	$	(6,368)	$	(399)	$	44,771	$	105,348	$	(60,577)

* Included in other are various royalty and other property interests held in Serbia, Finland, Sweden, Argentina, Chile, Mexico, Canada and the USA.

** Includes previously recognized recoveries, impairment charges and translation adjustments.

As at and for the year ended December 31, 2023:


	Country	December 31, 2022		Net Additions (Recoveries)		Depletion		Impairment		December 31, 2023		Historical cost		Accumulated depletion and other**
Royalty Interests
Gediktepe	Türkiye	$	34,528	$	-	$	(4,627)	$	-	$	29,901	$	43,746	$	(13,845)
Diablillos	Argentina	6,582		-		-		-		6,582		7,224		(642)
Leeville	USA	4,546		-		(405)		-		4,141		38,869		(34,728)
Berenguela	Peru	1,828		-		-		-		1,828		2,006		(178)
Tartan Lake	Canada	914		-		-		-		914		1,003		(89)
Revelo Portfolio	Chile	1,137		(709)		-		(27)		401		453		(52)
Timok	Serbia	148		-		(7)		-		141		195		(54)
Other*	Various	2,008		300		-		-		2,308		2,381		(73)
		51,691		(409)		(5,039)		(27)		46,216		95,877		(49,661)
Other Property Interests
Perry Portfolio	Canada	741		(200)		-		(43)		498		2,199		(1,701)
Revelo Portfolio	Chile	-		709		-		-		709		709		-
Other*	Various	993		(317)		-		-		676		3,324		(2,648)
		1,734		192		-		(43)		1,883		6,232		(4,349)
Total		$	53,425	$	(217)	$	(5,039)	$	(70)	$	48,099	$	102,109	$	(54,010)

* Included in other are various royalty and other property interests held in Serbia, Finland, Sweden, Argentina, Chile, Mexico, Canada and the USA.

** Includes previously recognized recoveries, impairment charges and translation adjustments.

Note 7 - Royalty and Other Property Interests (continued)

Royalty Interests

Timok Royalty

EMX’s Timok royalty is located in the Bor Mining District of Serbia and covers the Cukaru Peki copper-gold deposit. On September 1, 2023 the Company executed an amended and restated royalty agreement for its Timok royalty property with Zinjin Mining Group Ltd ("Zijin"). The Company and Zijin agreed that the Timok royalty will consist of a 0.3625% NSR royalty that is uncapped and cannot be repurchased or reduced.

Gediktepe Royalty

The Company holds two royalties at Gediktepe in Türkiye, which include: (i) a perpetual 10% NSR royalty over metals produced from the oxide zone after cumulative production of 10,000 gold-equivalent oxide ounces; and (ii) a perpetual 2% NSR royalty over metals produced from the sulfide zone, payable after cumulative production of 25,000 gold-equivalent sulfide ounces. Upon achievement of production of 25,000 gold-equivalent sulfide ounces a $3,000 milestone payment will become payable, with a second $3,000 milestone payment becoming payable on the first anniversary of the sulfide production milestone.

Leeville Royalty

The Company holds a 1% gross smelter return royalty on portions of West Leeville, Carlin East, Four Corners, Turf and other underground gold mining operations and deposits in the Northern Carlin Trend of Nevada. The Leeville royalty property is included in the Nevada Gold Mines LLC and Barrick-Newmont Nevada joint venture. Royalty income from the Leeville mine incurs a 5% direct gold tax.

Balya Royalty

The Company holds a 4% NSR royalty on the Balya property, that is uncapped and is not subject to a buy back agreement. The Balya royalty property is operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. Ve Tic. A.Ş., a private Turkish company.

Gold Bar South Royalty

The Company holds a 1% NSR royalty in the Gold Bar South royalty property, operated by McEwen Mining Inc. ("McEwen"), which covers a gold deposit situated southeast of McEwen's Gold Bar open pit mining operation in north-central Nevada.

Chapi Royalty

During the year ended December 31, 2024, the Company acquired a 1% NSR royalty in the Chapi copper mine located in southern Peru from a subsidiary of Quilla Resources Inc. Subsequent to year end, the Company increased the NSR royalty to 2% for additional consideration of $7,000.