Press Release | Versamet Royalties

Versamet Royalties Acquires Significant Silver Stream and Long-Life Polymetallic Royalty Immediately Increasing Cash Flow and Accelerating Growth

Brent Bonney — Wed, 24 Sep 2025 12:58:20 +0000

All amounts are in U.S. dollars unless otherwise indicated.

Vancouver, BC: Versamet Royalties Corporation (“Versamet” or the “Company”) (TSX-V: VMET) has closed an agreement with funds advised by Appian Capital Advisory Limited¹ (collectively “Appian”) to acquire a 90% silver stream on the Rosh Pinah Zinc’s mine in Namibia (the “Stream”) and a 2.75% net smelter return royalty on the Santa Rita mine in Brazil (the “NSR Royalty”) for up-front cash consideration of $125 million and contingent consideration of up to $45 million, adding two significant producing long-life assets to Versamet’s growing portfolio (the “Transaction”).

Transaction Highlights

Immediate cash flow from two long-life, high-quality, producing assets:
- Rosh Pinah Zinc – an operating underground mine in Namibia with over 55 years of mining history and a long history of resource additions and significant exploration potential
- Santa Rita – a top tier nickel sulphide mine located in Bahia state, Brazil, currently producing from an open pit
- The Stream and NSR Royalty are expected to contribute approximately 5,000 gold equivalent ounces (“GEOs”) in 2026 using analyst consensus metal prices²

Major near-term growth catalysts at both assets:
- Rosh Pinah Zinc’s RP2.0 – significant mine and mill expansion underway targeting a near doubling of throughput expected to be completed in the second half of 2026
- Santa Rita Underground – evaluating a large-scale underground mining operation to potentially extend the mine life

Both assets in established mining jurisdictions and operate to high industry standards under Appian stewardship:
- Both assets are in highly regarded mining-friendly jurisdictions and majority owned by a well-capitalized and respected investor, with a successful track record of optimizing mining projects internationally

Strategic Rationale

Immediate and significant increase to gold equivalent ounces (“GEOs”) and growth profile:
- 2026 production expected to grow to over 20,000 GEOs², an increase of approximately 25% from previous forecast, with further upside from near-term growth catalysts

Increases portfolio diversification and bolsters precious metals exposure:
- New revenue sources from Namibia and Brazil with enhanced leverage to silver production
- Approximately 83% of 2026 GEOs expected from precious metals, with roughly two-thirds from gold, while strategic long-life investments in non-precious metals remain below 20%

Accretive to net asset value and cash flow per share:
- Transaction aligns with Versamet’s strategy of disciplined growth on an accretive per share basis

Strongly positions Versamet for further growth:
- Enhanced portfolio generating substantial cash flow positions Versamet to build a leading mid-tier precious metals royalty and streaming company
- Transaction aligns with the Company’s dual track growth objectives to enhance both the asset portfolio and the capital markets profile

Dan O’Flaherty, CEO of Versamet, commented, “Securing uncapped, long-life and growing exposure to silver and nickel-copper production meaningfully enhances Versamet’s cash flow engine and growth trajectory while continuing our strategy of accretive acquisitions. Both Rosh Pinah Zinc and Santa Rita have significant upcoming growth catalysts, with the RP2.0 expansion expected to be completed next year, and the Santa Rita underground project nearing a construction decision. Our forecasted production is now expected to exceed 10,000 GEOs this year, growing to over 20,000 GEOs in 2026 and organically increasing by approximately 25% to 25,000 GEOs in the medium term. Versamet’s portfolio is now stronger, more diversified, and well positioned for our planned listings in the United States and on the TSX mainboard.”

Transaction Summary

Versamet has acquired both a 90% silver stream on Rosh Pinah Zinc and a 2.75% NSR Royalty on Santa Rita for a total of $125 million in cash consideration (the “Purchase Price”), which was paid in connection with the closing of the Transaction³. In addition, Versamet has agreed to pay up to an additional $45 million in cash consideration upon certain milestones being achieved at Santa Rita:

$22.5 million upon the processing of the first 1.0 million tonnes of underground ore at Santa Rita, provided that occurs prior to July 1, 2035; and
$22.5 million upon Santa Rita achieving a throughput rate of 12,500 tonnes per day from underground ore over a 90-day period, provided that occurs prior to July 1, 2035.

Both the Stream and NSR Royalty have an Effective Date of July 1, 2025.

Rosh Pinah Zinc Silver Stream

Under the Stream agreement (the “Stream Agreement”), Versamet is entitled to receive refined silver equal to 90% of payable silver from the Rosh Pinah Zinc mine. After a total of 3,100,000 ounces of silver have been delivered under the Stream Agreement, Versamet will be entitled to receive 45% of payable silver for the remaining life of the mine. Versamet will pay 10% of the spot silver price for each ounce delivered to the Stream.

For an initial period commencing on the Effective Date, payable silver will based on the production of recovered zinc from the mine (the “Production Index”) as follows:

4,000 ounces of payable silver per million pounds of recovered zinc until the delivery of 250,000 silver ounces to the Stream; and
2,850 ounces of payable silver per million pounds of recovered zinc thereafter.

The Production Index will terminate on the earlier of i) 1,350,000 ounces of silver delivered to the Stream, or ii) December 31, 2028. After the termination of the Production Index, payable silver will be based on actual payable sliver production from the Rosh Pinah Zinc mine.⁴

Santa Rita NSR Royalty

The 2.75% NSR Royalty on Santa Rita is an uncapped, life of mine royalty that covers 100% of the open pit and underground deposits, as well as the entirety of Atlantic Nickel’s current land holdings in the area, representing an area of over 40,000 hectares.

Rosh Pinah Zinc

Rosh Pinah Zinc is an operating underground zinc-lead-silver mine located in southwestern Namibia, approximately 800 kilometres south of the capital, Windhoek, and has been in operation for over 55 years. In 2024, the mine processed 0.65 million tonnes of ore, producing 87 million pounds of zinc, 14 million pounds of lead and 244,000 ounces of silver in concentrates.⁵

Appian, the owner of Rosh Pinah Zinc, is currently undertaking an expansion at the mine (“RP2.0”), which includes the construction of new processing facilities, including the addition of a paste fill plant and water treatment plant, and a dedicated portal and underground decline. Construction of the surface facilities is over 80% complete with construction completion expected in Q3 2026. The expansion aims to to nearly double mill throughput to approximately 1.3 million tonnes per annum.

A NI 43-101 technical report on the RP2.0 expansion was completed by a previous owner of Rosh Pinah Zinc in 2021 that disclosed historical proven and probable reserves totalling 12.35 million tonnes, grading 6.41% zinc, 1.36% lead, and 19.8 grams per tonne silver, and estimated an average annual payable silver production of approximately 300,000 ounces per annum.⁶

Santa Rita

The Santa Rita operation is a large open-pit polymetallic mine situated in Bahia State, Brazil, approximately 140 kilometres inland from the port of Ilhéus. It is owned by Atlantic Nickel (“ATN”), a wholly owned affiliate of Appian.

Current operations at Santa Rita involve open pit mining and processing through a concentrator with capacity of approximately 6.5 million tonnes per year, producing a nickel sulphide concentrate. The concentrate also contains copper, cobalt, platinum, palladium, and gold by-products. In 2024, Santa Rita processed 6.6 million tonnes of open pit ore and produced 31.8 million pounds of nickel, 10.1 million pounds of copper and 0.6 million pounds of cobalt in concentrates.⁷

A December 2022 Competent Persons Report disclosed Santa Rita’s historical open pit proven and probable reserves of 34.8 million tonnes grading 0.31% nickel sulphide and 0.11% copper and measured and indicated resources (inclusive of reserves) of 43.4 million tonnes at 0.33% nickel sulphide and 0.12% copper.⁸

ATN is currently evaluating the mine’s underground development which has the potential to extend the mine life beyond the current open pit operations. For more information, please refer to Appian’s press release dated May 1, 2025, available on Appian’s website at www.appiancapitaladvisory.com/media/news.⁹

Transaction Financing

Versamet has funded the full Purchase Price through an amended and restated credit facility (the “Amended Credit Facility”), which includes an upsize to the existing revolving facility from $60 million to $100 million, maturing in April 2028, and a new term facility in the amount of $80 million, maturing in March 2028, for a combined total of $180 million, from the Bank of Montreal and National Bank of Canada.¹⁰

The Amended Credit Facility includes the following new or amended principal terms:

Accordion Feature: Increased from $15 million to $25 million, available following full repayment of the new term facility and subject to customary terms.
Term Facility Repayment: Repayable in quarterly instalments of $7.5 million commencing on March 31, 2026, with a final bullet repayment of $20 million at maturity on March 31, 2028.
Permitted Acquisitions Covenant: Increased permitted acquisitions basket from $45 million to $125 million for purposes of permitting the Transaction and future acquisition transactions.

Except as described above, the interest rates, covenants, security and other material terms of the Amended Credit Facility are substantially consistent with the terms of the Company’s existing credit facility, which are described in the Company’s non-offering prospectus dated May 12, 2025, available on www.sedarplus.ca.

Versamet Post Closing

Post closing of the Transaction, Versamet will have a total of seven paying royalties and streams across six different countries within its portfolio of 28 royalties and streams. The Company is forecasting more than 10,000 GEOs in 2025, increasing to over 20,000 GEOs in 2026² with approximately 83% derived from gold and silver. The Company is well-positioned to rapidly de-leverage while continuing to pursue additional accretive acquisition opportunities.

As previously announced, Versamet is advancing its process to list in the United States as well as graduating to the TSX mainboard. These listings are expected to increased market awareness, improved trading liquidity and broaden our investor participation.

About Versamet Royalties Corporation

Versamet is an emerging mid-tier precious metals royalty & streaming company focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol “VMET”.

For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com.

General inquiries:
Craig Rollins, General Counsel
Email: info@versamet.com
Telephone: 778-945-3948

About Appian Capital Advisory Limited

Appian Capital Advisory Limited is the investment advisor to long-term value-focused private capital funds that invest in companies in metals, mining, and adjacent industries.

Appian is a leading investment advisor with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies in metals, mining, and adjacent industries to achieve their development targets, with a global operating portfolio overseeing approximately 6,000 employees.

Appian has a global team of 100 experienced investment professionals, combining financial and technical expertise, with presences in London, Abu Dhabi, New York, Dubai, Belo Horizonte, São Paulo, Beijing, Hong Kong, Toronto, Lima and Perth. For more information, please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Instagram or Twitter/X.

Contact:
Andrew Todd, Head of Communications
Email: atodd@appiancapitaladvisory.com or info@appiancapitaladvisory.com
Telephone: +44 799 0416 759

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company’s ability to enhance market profile and broaden its investor base; continued momentum with additional upcoming catalysts noted; forecasted production of more than 10,000 GEOs in 2025 and approximately 20,000 GEOs in 2026; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Non-IFRS Measures

We have included, in this document, certain performance measures, including GEOs which is a non-IFRS measure. The presentation of such 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. This non-IFRS measure do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.

Technical and Third Party Information

Except where otherwise stated, the disclosure in this press release relating to Rosh Pinah Zinc and Santa Rita is based on information publicly disclosed by the owners or operators of this property and information/data available in the public domain as at the date hereof and none of this information has been independently verified by Versamet. Specifically, as a royalty/stream holder, Versamet has limited, if any, access to the property subject to the royalties/streams. Although Versamet does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by the owner or operator may relate to a larger property than the area covered by Versamet’s interests.

“Inferred mineral resources” 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 inferred mineral resource will ever be upgraded to a higher category. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

Endnotes

1. Appian Natural Resources Fund II LP, Appian Natural Resources (UST) Fund II LP, RP SP (Jersey) Ltd. (an affiliate of Appian). All parties are arm’s length to the Company.

2. GEOs estimated using analyst consensus metal prices provided by National Bank for 2026 (gold: $3,314 per ounce, silver: $35.76 per ounce, copper: $4.49 per pound, nickel: $7.69 per pound).

3. The Company and Appian executed sale and purchase agreements dated September 24, 2025. The Company intends to provide an allocation of the Purchase Price, in accordance with IFRS, in its Q3 2025 financial statements. No finder’s fees were paid in connection with the Transaction.

4. For the avoidance of doubt, the Production Index portion of the Stream will terminate at the earlier of i) 1.35 million ounces being delivered to the Stream, or ii) December 31, 2028. Thereafter, deliveries to the Stream will be based on the actual payable silver produced for the life of mine at Rosh Pinah Zinc.

5. Source: Information provided by Appian.

6. Source: Technical Report – Rosh Pinah Expansion “RP2.0” NI 43-101 Feasibility Study Corporation, Namibia, prepared for Trevali Mining Corporation, effective date March 31, 2021, submitted to SEDAR on August 17, 2021, authored by R Webster, MAIG, A Hall, MAusIMM (CP), L Lintvelt, PrEng, R Welsh, PrEng, M Molavi, P.Eng. Proven reserves of 6.14 Mt at 6.14% Zn, 1.50% Pb, 18.8 g/t Ag, Probable Reserves of 6.21 Mt at 6.55% Zn, 1.22% Pb, 20.8 g/t Ag. CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) were used for reporting of the historical estimates. These historical estimates have an effective date of March 31, 2021. A qualified person has not performed sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and Versamet is not treating the historical estimates as current. Significant data compilation and data verification may be required by a qualified person before the historical estimates can be classified as current mineral resources or mineral reserves. However, the historical resource estimates are considered to be reliable and relevant and are presented for the purpose of describing the history of the project. The historical estimates should not be relied upon until verified.

7. Source: Information provided by Appian.

8. Source: Competent Person’s Report on the Santa Rita Mine, Bahia State, Brazil, prepared for ACG Acquisition Company Limited, effective December 31, 2022, prepared by SLR Consulting (Canada) Ltd. and authored by D. Smith, CENG, Orlando Rojas, AIG, Andrew Bradfield, P.Eng, Greg Robinson, P.Eng, Anthony Maycock, P.Eng and Dr. H. Yuan, P.E. Open pit Proven Reserves of 7.98 Mt at 0.35% NiS and 0.12% Cu, Probable Reserves of 26.9 Mt at 0.30% NiS and 0.11% Cu. CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) were used for reporting of the historical estimates. These historical estimates have an effective date of March 31, 2021. A qualified person has not performed sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and Versamet is not treating the historical estimates as current. Significant data compilation and data verification may be required by a qualified person before the historical estimates can be classified as current mineral resources or mineral reserves. However, the historical resource estimates are considered to be reliable and relevant and are presented for the purpose of describing the history of the project. The historical estimates should not be relied upon until verified.

9. https://appiancapitaladvisory.com/bnamericas-spoke-with-ignacio-bustamante-appians-us600m-plans-for-its-brazilian-santa-rita-nickel-mine/.

10. The Amended Credit Facility was executed on September 23, 2025, with BMO and National Bank (both arm’s length parties to the Company). Immediately prior to the closing of the Transaction, the Company had $51 million drawn on the credit facility. The Amended Credit Facility may be drawn in U.S. dollars and subject to interest at SOFR plus 2.25% – 3.50% per annum depending on the Company’s leverage ratio, and the undrawn portion is subject to a standby fee of 0.5063% – 0.7875% per annum. The term loan may be drawn in U.S. dollars and subject to interest at SOFR plus 2.25% – 3.50%. The Amended Credit Facility contains a mandatory prepayment clause related to Equinox Gold’s option to partially buydown the gold stream on the Greenstone mine as stated in the previous credit facility. The Company has granted all-asset security in favour of its lenders. Fees paid to lenders in connection for the Amended Credit Facility totalled approximately $695,000. For more information on the credit facility, please refer to the Company’s financial statements for the year ended December 31, 2024, and the quarter ended June 30, 2025, available on sedarplus.ca.

The post Versamet Royalties Acquires Significant Silver Stream and Long-Life Polymetallic Royalty Immediately Increasing Cash Flow and Accelerating Growth appeared first on Versamet Royalties.

Versamet Royalties Announces Effective Date of Share Consolidation

Brent Bonney — Wed, 10 Sep 2025 12:30:25 +0000

Download PDF

Vancouver, BC: Versamet Royalties Corporation (“Versamet” or the “Company”) (TSXV: VMET) announces that, further to its news release dated September 8, 2025, the consolidation of its common shares on the basis of five (5) pre-consolidation common shares for each one (1) post-consolidation common share (the “Consolidation”) will be effected on September 12, 2025. The Consolidation is being completed in order to align Versamet’s share price with the minimum listing requirements of the NYSE American, consistent with the Company’s previously announced U.S. listing plans. Versamet’s post-Consolidation common shares will be posted for trading on the TSX Venture Exchange at the opening of trading on September 12, 2025 under the current symbol “VMET” and new CUSIP number 92528V200.

The 466,836,693 common shares issued and outstanding prior to the Consolidation shall be consolidated to approximately 93,367,339 common shares. All fractional shares that would otherwise be received by a shareholder as a result of the Consolidation shall be rounded to the nearest whole number. All stock options and restricted share units will be proportionately adjusted based on the Consolidation ratio.

Registered shareholders that hold physical share certificates or DRS Statements will receive a letter of transmittal requesting that they forward their pre-Consolidation common share certificates or DRS Statements to Versamet’s transfer agent, TSX Trust, for exchange for new share certificates or DRS Statements representing common shares on a post-Consolidation basis.

About Versamet Royalties Corporation

Versamet is an emerging precious metals royalty & streaming investment focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol “VMET”.

For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com.

General inquiries:
Craig Rollins, General Counsel
Email: info@versamet.com
Telephone: 778-945-3948

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Consolidation, including the related timing thereof, the treatment of fractional Shares in connection with the Consolidation, the mailing of the letters of transmittal in respect of the Consolidation and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 and short form base shelf prospectus dated August 1, 2025, both available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Royalties Announces Effective Date of Share Consolidation appeared first on Versamet Royalties.

Versamet Royalties Announces Process to List in the United States on the NYSE American and Application to Graduate to the TSX

Brent Bonney — Mon, 08 Sep 2025 12:30:21 +0000

Download PDF

Vancouver, BC: Versamet Royalties Corporation (“Versamet” or the “Company”) (TSX-V: VMET) announces its intention to seek a listing of its common shares on the NYSE American (“NYSE American”). In addition, the Company has applied to graduate to the facilities of the Toronto Stock Exchange (“TSX”).

Dan O’Flaherty, CEO of Versamet, commented, “Our strategic decision to pursue a dual listing on the NYSE American and to apply to graduate to the TSX better aligns our capital markets platform with the scale and quality of our royalty and streaming portfolio. The U.S. is the world’s deepest market for trading liquidity, capital flows, and investor participation and the TSX mainboard is the Canadian benchmark for metals and mining issuers. As we continue to build our durable, cash-generative portfolio, these listings are expected to deliver increased market awareness, improved trading liquidity and broaden our investor participation as we continue our disciplined growth going forward.”

U.S. Listing and Share Consolidation

The Company is engaged in the listing process with NYSE American and believes a U.S. listing could lead to increased interest by a wider audience of potential investors, increased marketability and trading liquidity, and provide the opportunity for broader index inclusion.

In connection with the potential NYSE American listing, Versamet intends to consolidate its common shares on a one-for-five basis (the “Consolidation”) to align its per-share trading price with NYSE American’s minimum listing requirements.

As at the date of this news release, the Company has 466,836,693 common shares issued and outstanding. Following the completion of the Consolidation, the Company is expected to have approximately 93,367,339 common shares issued and outstanding, subject to rounding. The exercise or conversion price of outstanding stock options and restricted share units will be proportionately adjusted based on the Consolidation ratio. The proposed Consolidation is also subject to approval by the TSX Venture Exchange.

Intention to Graduate to the TSX

Concurrent with the intention to apply to list its common shares on the NYSE American, the Company has applied to graduate its listing to the to the TSX. The TSX is Canada’s senior exchange and a global centre for metals and mining finance. Similar to a listing on the NYSE American, the Company expects graduating to the TSX could deliver increased trading liquidity, increased visibility and credibility and opportunities for broader index inclusion.

No assurances can be given that the Company will be successful in achieving a listing of its securities on the NYSE American or the TSX and listing will be subject to fulfilling all the requirements of each stock exchange.

About Versamet Royalties Corporation

General inquiries:
Craig Rollins, General Counsel
Email: info@versamet.com
Telephone: 778-945-3948

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company successfully listing on the NYSE American and any benefits of such a U.S. stock exchange listing; the proposed share consolidation, including the number of outstanding shares after the consolidation; and graduating to the TSX. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 and short form base shelf prospectus dated August 1, 2025, both available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Royalties Announces Process to List in the United States on the NYSE American and Application to Graduate to the TSX appeared first on Versamet Royalties.

Versamet Royalties Announces Record Revenue and Gold Equivalent Ounces for the Second Quarter of 2025

Brent Bonney — Wed, 27 Aug 2025 21:30:00 +0000

Download PDF

All amounts are in U.S. dollars unless otherwise indicated.

Vancouver, BC: Versamet Royalties Corporation (“Versamet” or the “Company”) (TSX-V: VMET) announces its operating and financial results for the three months ended June 30, 2025.

Second Quarter 2025 Highlights

Record revenue of $4.8 million.
Record attributable gold equivalent ounces¹ (“GEOs”) of 1,475.
Record operating cash flow before working capital changes² of $3.2 million.
The Company’s common shares commenced trading on the TSX Venture Exchange under the symbol “VMET”.
Acquisition of a copper stream on the operating Kolpa mine in Peru, owned by Endeavour Silver Corp. (“Endeavour”) and received inaugural copper delivery in June.
West African Resources Ltd (“West African”) poured first gold at its Kiaka mine and Artemis Gold Inc. (“Artemis”) announced the commencement of commercial production at its Blackwater mine.
Increased the Company’s revolving credit facility to $60 million, with an additional $15 million accordion feature.

Dan O’Flaherty, CEO of Versamet, commented, “The second quarter was highlighted by several significant milestones in Versamet’s short history as the Company’s common shares commenced trading on the TSX Venture Exchange in May and the first gold pour occurred at Kiaka in June, which will be a meaningful contributor to our royalty revenue going forward. In addition, we completed the acquisition of a copper stream on the operating Kolpa mine which adds another paying asset to our portfolio. As a newly listed company, we continue to focus on enhancing our market profile and broadening our investor base in parallel with actively evaluating new opportunities to accretively grow our asset portfolio.

We are on track to meet our guidance of 8,000 to 9,500 GEOs this year with increasing positive free cash flow generation expected for the second half of the year as Greenstone, Kiaka, and Blackwater continue to ramp up operations to nameplate capacity and the start of pre-strip mining at Toega in the fourth quarter.”

Summary of Quarterly Results

All amounts in thousands, except GEOs.

	3 months ended Jun. 30, 2025	3 months ended Jun. 30, 2024
Attributable GEOs¹	1,475	1,237
Revenue	$4,826	$2,901
Net income	$170	$1,123
Adjusted EBITDA³	$2,220	$1,607
Operating cash flow, before working capital changes²	$3,208	$1,779

For complete details please refer to the unaudited Condensed Interim Financial Statements and associated Management Discussion and Analysis for the quarter ended June 30, 2025, available on SEDAR+ (sedarplus.ca) or on the Company’s website (versamet.com).

Asset Updates

Greenstone (1.26% Gold Stream)

Attributable production from Greenstone totaled 1,050 GEOs in the second quarter. Operations continued to ramp up in the second quarter with mining rates increasing 23% and processing rates improving 20% over the first quarter. Equinox Gold has provided production guidance of 220,000 to 260,000 ounces of gold for 2025. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of produced gold or 350 ounces of gold. ⁴

Kiaka (2.7% NSR)

On June 26, 2025, West African poured its maiden gold bars at Kiaka, ahead of schedule. Ramp up to full production is progressing well with recoveries to date consistently above 92% and grid power connection expected in the third quarter of 2025. West African is forecasting production of 100,000 to 150,000 ounces of gold from Kiaka in 2025. On August 6, 2025, West African provided an updated 10-year production outlook which forecasts average production of 255,000 ounces of gold per year from 2026 to 2030 at Kiaka. ⁵

Kolpa (95.8% Copper Stream)

On May 1, 2025, the Company completed the acquisition of a copper stream on Kolpa, a silver-focused polymetallic mine located in Peru that has been operation for over 25 years. Versamet received its inaugural delivery of copper from the stream in June. Endeavour is awaiting final operating permits to increase mining rates from 1,800 tonnes per day to 2,500 tonnes per day. Endeavour expects to complete an updated mineral resource estimate in 2026. ⁶

Blackwater (0.21% NSR)

During the second quarter, Artemis achieved commercial production at its Blackwater mine in British Columbia and produced 50,623 ounces of gold in the quarter. On August 12, 2025, Artemis announced it is on track to achieve its production guidance for 2025 of 190,000 to 230,000 ounces of gold and continues to evaluate the opportunity to accelerate and optimize the proposed phase 2 expansion, with a decision to be made by the end of this year. ⁷

Toega (2.7% NSR)

On July 30, 2025, West African provided an update on development activities at Toega highlighting that mining activities on the pre-stripping phase are still on schedule and expected to commence in the fourth quarter of 2025. West African’s updated 10-year production outlook includes production from the Toega open pit of 70,000 to 80,000 ounces of gold per year and production from the underground mine at Toega of 70,000 to 80,000 ounces of gold per year starting in 2029. ⁸

Cuiú Cuiú (1.5% NSR)

On July 29, 2025, Cabral Gold Inc. announced the results of an updated pre-feasibility study on the development of near-surface gold-in-oxide material at the Cuiú Cuiú gold district in Brazil. The results confirm the Cuiú Cuiú gold-in-oxide starter project provides a high return and a low capital entry point to mine gold, with production possible within 12 months from an investment decision. ⁹

About Versamet Royalties Corporation

General inquiries:
Craig Rollins, General Counsel
Email: info@versamet.com
Telephone: 778-945-3948

Qualified Person

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company’s ability to enhance market profile and broaden its investor base; continued momentum with additional upcoming catalysts noted; forecasted production to between 8,000 and 9,500 GEOs in 2025; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

Endnotes

1. Attributable Gold Equivalent Ounces is calculated by converting the Company’s royalty revenue and copper sales to a GEO basis by dividing the royalty revenue plus copper sales for a period by the average gold price based on the LBMA Gold Price PM Fix per ounce for the same respective period. Total Attributable GEOs sold includes the GEOs from the Company’s royalty revenue and copper sales plus the gold ounces sold from the Greenstone gold interest. The Company presents Attributable GEOs as it believes that this is useful information to allow investors to evaluate the Company’s performance in comparison to other streaming and royalty companies in the precious metals mining industry that present results on a similar basis.

(U.S. dollars in thousands, except gold price and GEOs)	3 months ended Jun. 30, 2025	3 months ended Jun. 30, 2024
Revenue	4,826	2,901
Divided by:
Average realized gold price per ounce	3,272	2,346
Total Attributable GEOs	1,475	1,237

2. Cash flow from operating activities before working capital changes is calculated by adding back the decrease or subtracting the increase in changes in non-cash working capital (being trade and other receivables and prepaid assets and trade and other payables) to or from cash provided by (used in) operating activities. The Company presents cash flows from operating activities before changes in non-cash working capital as it believes this presents a useful measure of the Company’s ability to generate cash to cover operating expenses from its cash-flowing royalties.

(U.S. dollars in thousands)	3 months ended Jun. 30, 2025	3 months ended Jun. 30, 2024
Cash flows provided by (used in) operating activities	2,310	1,849
Working capital changes	898	(69)
Cash flows from operations before working capital changes	3,208	1,779

3. EBITDA refers to earnings (or loss) determined in accordance with IFRS, before finance and interest expense, interest income, income tax expense (recovery) and depreciation (including depletion) and amortization. Adjusted EBITDA adjusts EBITDA to exclude any non-cash cost of sales, one-off impairment charges and gains/loss on assets and liabilities which are market-to-market each reporting period. This measure is used by management and investors to determine the ability of an issuer to generate cash from operations. Management believes this measure is a useful supplemental measure from which to determine the Company’s ability to generate cash available for working capital requirements, investment expenditures and income taxes.

(U.S. dollars in thousands)	3 months ended Jun. 30, 2025	3 months ended Jun. 30, 2024
Net Income	170	1,123
Finance and interest expense	6,592	995
Income taxes	662	621
Interest income	(13)	(14)
Depletion	661	187
EBITDA	8,072	2,912
Non-cash cost of sales – Greenstone gold interest	2,753	1,968
Change in fair value of Greenstone gold interest	(5,433)	(3,951)
Change in fair value of derivative liability	(3,172)	678
Adjusted EBITDA	2,220	1,607

4. For more information, please refer to Equinox Gold’s news release dated August 13, 2025, available at equinoxgold.com.

5. For more information, please refer to West African’s ASX announcements dated July 30, 2025, and August 6, 2025, and the August 5, 2025 presentation titled “Diggers & Dealers Presentation 2025” available at westafricanresources.com.

6. For more information, please refer to Endeavour’s Silver’s news release dated August 13, 2025, available at edrsilver.com.

7. For more information, please refer to Artemis Gold’s news release dated August 12, 2025, available at artemisgoldinc.com.

8. For more information, please refer to West African’s ASX announcements dated July 30, 2025, and August 6, 2025, and the August 5, 2025 presentation titled “Diggers & Dealers Presentation 2025” available at westafricanresources.com.

9. For more information, please refer to Cabral Gold’s news release dated July 29, 2025, available at cabralgold.com.

The post Versamet Royalties Announces Record Revenue and Gold Equivalent Ounces for the Second Quarter of 2025 appeared first on Versamet Royalties.

Versamet Royalties Announces First Gold Pour at Kiaka in Mid-Year Update

Brent Bonney — Mon, 07 Jul 2025 09:30:53 +0000

Download PDF

Vancouver, BC | Versamet Royalties Corporation (“Versamet” or the “Company”) (TSX-V: VMET) is pleased to provide a mid-year update highlighting several recent developments.

Dan O’Flaherty, CEO of Versamet, commented, “Versamet has made significant progress in the first half of the year, marked most notably by the commencement of trading on the TSX Venture Exchange in late May. Since then, we have continued to build momentum with several key milestones, including the receipt of our first royalty payment from Artemis Gold’s Blackwater mine, the inaugural copper delivery from Endeavour Silver’s Kolpa mine, and, most significantly, the first gold pour at West African Resources’ Kiaka mine, which occurred ahead of schedule. Our cash flow-focused portfolio is taking shape, and we anticipate a meaningful increase in GEOs in the second half of the year. As these new mines continue to ramp up toward full capacity, we expect our attributable GEOs to grow from 8,000–9,500 in 2025 to 14,000–16,000 in 2026, laying a strong, cash-generative foundation for continued growth.”

First Gold Pour at Kiaka

On June 30, 2025, West African Resources (“West African”) announced that first gold was poured at its Kiaka mine on June 26, 2025. Construction of Kiaka was completed in the second quarter of 2025, ahead of schedule and under budget. Ramp up is progressing smoothly with recoveries consistently above 92%, outperforming expectations. West African expects to ramp Kiaka up to nameplate throughput during the third quarter of 2025 and produce an average of 258,000 ounces of gold per year over the first five years of operation.

For more information, please refer to West African’s ASX announcements dated June 30, 2025, titled “West African Pours First Gold at Kiaka Ahead of Schedule” and July 2, 2024, titled “Kiaka Feasibility Update Delivers 4.8 Moz Gold Ore Reserve 20 Year Mine Life” available on West African’s website at westafricanresources.com.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, P.Eng, Vice President of Evaluations for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects.The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, P.Eng, Vice President of Evaluations for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Contact Information

For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com.

Craig Rollins
General Counsel
Office / 778 945 3948
email / info@versamet.com

ABOUT VERSAMET ROYALTIES CORPORATION

Versamet is an emerging precious metals royalty and streaming investment focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol “VMET”.

NON-IFRS MEASURES

Versamet uses certain performance measures in its analysis. These non-GAAP performance measures are included in this document because these statistics are key performance measures that management uses to monitor performance to assess how Versamet is performing. These performance measures do not have a standard meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other companies.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: meaningful increases in attributable GEOs in the second half of the year; continued ramp up of new mines towards full capacity; expected growth of attributable GEOs from 8,000 – 9,500 in 2025 to 14,000 – 16,000 in 2026; West African’s expectations; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Royalties Announces First Gold Pour at Kiaka in Mid-Year Update appeared first on Versamet Royalties.

Versamet Royalties Engages Market Maker

sabrina — Fri, 20 Jun 2025 21:09:45 +0000

Download PDF

Versamet Royalties Corporation (“Versamet” or the “Company”) (TSXV: VMET) announces it has retained Canaccord Genuity Corp. (“Canaccord”) to provide market making services with the objective of maintaining a reasonable market and improving the liquidity of its common shares.

Under the agreement, Canaccord will receive a monthly fee of C$10,000 plus applicable taxes, for an initial six month term and will be automatically renewed for subsequent one-month periods unless terminated earlier by 30 days’ prior written notice. Canaccord will not receive any common shares or options as compensation. Canaccord is a member of the Canadian Investment Regulatory Organization and a member firm of the Toronto Stock Exchange and the TSX Venture Exchange (“TSXV”). The engagement of Canaccord remains subject to the approval of the TSXV.

Contact Information

For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com.

General Inquiries
Office / 778 945 3948
email / info@versamet.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: Canaccord’s ability to provide the services as described; the anticipated monthly payments; receipt of TSXV approval; and the Company’s focus on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Royalties Engages Market Maker appeared first on Versamet Royalties.

Versamet Royalties Announces Record Revenue for the First Quarter of 2025

Brent Bonney — Wed, 28 May 2025 22:00:03 +0000

Download PDF

Vancouver, BC | Versamet Royalties Corporation (“Versamet” or the “Company”) (TSX-V: VMET) announces its operating and financial results for the three months ended March 31, 2025. All amounts are in U.S. dollars unless otherwise indicated.

First Quarter 2025 Highlights

Record revenue of $3.5 million.
Attributable gold equivalent ounces (“GEOs”) of 1,211.
Operating cash flow before working capital changes of $1.5 million.
Adjusted net income before finance expense, interest, taxation and depletion of $1.5 million.
Appointed Dan O’Flaherty as Chief Executive Officer of the Company.

Subsequent to quarter end:

Acquired a copper stream on the operating Kolpa mine in Peru, owned by Endeavour Silver.
The Company’s common shares commenced trading on the TSX Venture Exchange under the symbol “VMET”.
Increased the revolving credit facility to $60 million, with a $15 million accordion feature.
Fully repaid the outstanding balance on the Company’s convertible loan.
Appointed Elizabeth McGregor and Mark Backens to the Company’s Board of Directors.

Dan O’Flaherty, CEO of Versamet, commented, “It has been an exciting start to an important year for Versamet. This quarter marks the beginning of a significant ramp-up in GEOs and revenue, which is expected to grow our forecasted production to between 14,000 and 16,000 GEOs by 2026. We were pleased to see the first gold pour at Artemis Gold’s Blackwater mine in B.C. and the continued ramp-up of operations at Equinox Gold’s Greenstone mine in Ontario, both of which are expected to contribute increasing GEOs to Versamet over the remainder of this year and into 2026.

Looking ahead, we aim to continue this momentum with several upcoming catalysts, including the first delivery of copper from Kolpa, the first gold pour at Kiaka in the second half of the year, and the start of pre-strip mining at Toega.

Subsequent to quarter end, the Company’s common shares commenced trading on the TSX Venture Exchange on May 20, marking another key milestone in our growth. A primary focus going forward will be enhancing our market profile and broadening our investor base.”

Summary of Quarterly Results

All amounts in thousands except GEOs.

	Q1 2025	Q1 2024
Attributable GEOs	1,211	1,308
Revenue	$3,454	$2,697
Net income (loss)	$1,784	($173)
Operating cash flow, before working capital changes	$1,525	$1,753

For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the quarter ended March 31, 2025, available on SEDAR+ (sedarplus.ca).

Asset Updates

Greenstone (1.26% Gold Stream)

Attributable production from the Greenstone gold mine totaled 1,050 GEOs in Q1 2025. Operations continue to ramp up to full capacity with Equinox Gold expecting to achieve design recovery rates at the processing plant by mid-2025 following various optimization and improvement efforts. Versamet is entitled to monthly deliveries equal to the greater of 1.26% of produced gold or 350 ounces.

Kolpa (95.8% Copper Stream)

On May 1, 2025, Endeavour Silver (“Endeavour”) completed the acquisition of Kolpa, a silver-focused polymetallic mine located in Peru that has been operation for over 25 years. In 2024, Kolpa produced approximately 2.0 million ounces of silver, 19,820 tonnes of lead, 12,554 tonnes of zinc and 518 tonnes of copper. Permitting is in progress to expand the operation from 1,800 tonnes per day to 2,500 tonnes per day.

For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the quarter ended March 31, 2025, available on SEDAR+ (sedarplus.ca).

Blackwater (0.21% NSR)

On May 2, 2025, Artemis Gold (“Artemis”) announced that it had achieved commercial production at its Blackwater mine in BC and provided guidance of 160,000 to 200,000 ounces of gold production for 2025. Artemis also noted a potential acceleration of the proposed phase 2 expansion, which is anticipated to increase Blackwater’s average annual production to over 500,000 GEOs per year.

Kiaka (2.7% NSR)

On May 12, 2025, West African Resources (“West African”) provided an update on development activities at Kiaka highlighting that construction remains on schedule with the crushing circuit complete and operational, and commissioning of the wet plant underway. Mining activities are ramping up ahead of the scheduled commencement of process plant operations and first gold pour expected in Q3 of this year. West African is forecasting production of 100,000 to 150,000 ounces of gold from Kiaka in 2025.

Toega (2.7% NSR)

On April 17, 2025, West African provided an update on development activities at Toega highlighting that construction of the ore haul road from Toega to Sanbrado having commenced in the first quarter. Development remains on schedule with the start of pre-strip mining of the open pit expected in the fourth quarter of 2025. Also during the first quarter, West African announced a maiden underground mineral resource and scoping study for a potential underground development beneath the Toega open pit, which is expected to begin producing in 2026. The maiden underground inferred mineral resource estimate includes 4.9 million tonnes at a grade of 3.5 grams per tonne containing 560,000 ounces of gold with the deposit remaining open at depth. The underground scoping study outlined the potential to produce an additional 515,000 ounces of gold over a 7-year mine life. Toega underground production is incremental to the pre-existing 8-year open pit mine life outlined in West African’s latest 10-year mine plan. An updated 10-year mine plan is expected later this year which will integrate the open pit and underground resources into a single operation.¹

Note 1
For more information, please refer to West African’s news release dated March 18, 2025, titled “Toega Maiden Underground Resource and Scoping Study” available on West African’s website at westafricanresources.com.

Qualified Persons

Contact Information

For more information about Versamet, including additional details on our royalties and streams,
please visit our website at versamet.com.

Craig Rollins
General Counsel
Office / 778 945 3948
email / info@versamet.com

ABOUT VERSAMET ROYALTIES CORPORATION

Versamet is an emerging gold-copper royalty & streaming investment focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol “VMET”.

NON-IFRS MEASURES

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company’s ability to enhance market profile and broaden its investor base; continued momentum with additional upcoming catalysts noted; forecasted production to between 14,000 and 16,000 GEOs in 2026; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s
profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Royalties Announces Record Revenue for the First Quarter of 2025 appeared first on Versamet Royalties.

Versamet Commences Trading Today on TSX Venture Under Symbol “VMET”

foundry — Tue, 20 May 2025 13:24:18 +0000

Download PDF

Versamet Royalties Corporation (TSXV:VMET) (“Versamet” or the “Company”) announces that its common shares will commence trading on the TSX Venture Exchange (the “TSX-V”) today under the symbol “VMET”.

“Our listing on the TSX Venture Exchange is a significant milestone for Versamet as we enter the public markets,” said Dan O’Flaherty, CEO of Versamet. “With a portfolio of high-quality streams and royalties already generating meaningful free cash flow, and multiple near-term catalysts expected to drive forecasted 2026 production to between 14,000 and 16,000 gold equivalent ounces, we believe Versamet is firmly on the path to becoming the leading emerging gold-copper royalty and streaming investment. Supported by strong corporate partners and a seasoned team, we are well-positioned to deliver long-term value for our shareholders.”

For more information about Versamet Royalties, please visit our website at www.versamet.com
General inquiries email: info@versamet.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: the Company’s common shares trading on the TSX-V today; multiple near-term catalysts expected to drive forecasted 2026 production to between 14,000 and 16,000 gold equivalent ounces; being on the path to becoming the leading emerging gold-copper royalty and streaming company; and being well-positioned to deliver long-term value for our shareholders. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Commences Trading Today on TSX Venture Under Symbol “VMET” appeared first on Versamet Royalties.

Versamet Announces Filing of Final Prospectus and Initial Public Trading Date

foundry — Thu, 15 May 2025 13:01:28 +0000

Download PDF

Versamet Royalties Corporation (“Versamet” or the “Company”) announces that it has filed and obtained receipt for its final non-offering prospectus, received approval to list its common shares for trading on the TSX Venture Exchange (the “TSX-V”), and that the common shares are anticipated to commence trading on the TSX-V at the open of markets on May 20, 2025, under the symbol “VMET”.

For more information about Versamet Royalties, please visit our website at www.versamet.com
General inquiries email: info@versamet.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the anticipated trading date of the Common Shares. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2025 available for review on the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

The post Versamet Announces Filing of Final Prospectus and Initial Public Trading Date appeared first on Versamet Royalties.

Versamet Welcomes Two New Board Members

foundry — Mon, 12 May 2025 08:30:58 +0000

Download PDF

Versamet Royalties Corporation (“Versamet” or the “Company”) today announced the results of its Annual General Meeting (“AGM”) held on May 12, 2025, and the appointment of two new members to its Board of Directors.

Shareholders approved all items of business presented at the AGM, including the appointment of KPMG LLP as the Company’s auditor and the election of six directors.

The Company welcomes Ms. Elizabeth D. McGregor and Mr. Mark Backens to its Board of Directors. Ms. McGregor is a highly experienced financial professional with demonstrated expertise in leading and managing growth, and Mr. Backens is a respected senior mining industry leader with over 35 years of global mining experience, both of whom will be invaluable to Versamet as it continues to build the premier emerging gold-copper royalty and streaming investment. The complete biographies of the two new Versamet directors are below.

“We are excited to have Liz and Mark join the Versamet board at this important time for the Company,” said Greg Smith, Chairman of Versamet. “Their skills, expertise, and industry experience will be of great value to Versamet as we continue to grow and deliver value for our shareholders.”

Elizabeth D. McGregor:

Ms. McGregor is a corporate director with more than 20 years of mining and finance experience and currently serves on the board of directors for Kinross Gold and Orla Mining. She was most recently Executive Vice President and Chief Financial Officer of Tahoe Resources until its acquisition by Pan American Silver. She previously held progressively senior financial roles at Goldcorp, including Vice-President and Treasurer, and began her career at KPMG. Ms. McGregor is a Canadian Chartered Professional Accountant (CPA, CA) and holds a B.A. (Hons) from Queen’s University in Kingston, Ontario.

Mark Backens:

Mr. Backens has over 35 years of international experience in the mining industry, with a strong background in engineering, mine construction, mine management, and corporate development. He has held senior management roles with notable companies including Meridian Gold, Placer Dome, and Goldcorp, and also served as Director of Investment Banking – Mining at Scotia Capital.

Mr. Backens has served on the boards of several mining companies, including Timmins Gold, Anthem United, Newstrike Capital, Candelaria Mining, Soho Resources, and Alio Gold. He was also the former CEO of Alio Gold Inc.

He holds a Bachelor of Science degree in Geological Engineering from the South Dakota School of Mines and is certified under the Partners, Directors and Senior Officers program. Mr. Backens was formerly a member of AIME, CIM, and a registered Professional Geologist

For more information about Versamet, please visit our website at www.versamet.com
General inquiries email: info@versamet.com.

The post Versamet Welcomes Two New Board Members appeared first on Versamet Royalties.