*Disseminated on Behalf of Versamet Royalties Corp. Please see disclosures below. |
| Keep an Eye On Versamet Royalties Corp. |
| | | Folks,
In the world of precious metals investing, most people think about mining companies — the ones digging gold and silver out of the ground. But there's another way to play the space that side steps actually running a mine.
Versamet Royalties Corp. (VMET) is a precious metals royalty and streaming company that has been making waves since its launch in mid-2022. | | | What Exactly Does Versamet Do?
Rather than operating mines directly, Versamet provides upfront capital to mine operators in exchange for a percentage of future production or revenue. The company has used this approach to build a diversified portfolio of 28 assets across multiple countries and commodities, with a heavy emphasis on gold and silver.
Versamet describes itself as a cash-flow-focused, precious-metals-dominant, and geographically diversified platform.
The Growth Numbers Are Hard to Ignore
Versamet's 2025 results tell a compelling story. The company posted what it called a "record breakout year" with some eye-catching year-over-year increases.
The headline numbers from 2025 include:
- Revenue up 189% over 2024
- Gold equivalent ounces (GEOs) up 94% over 2024
- Operating cash flow up 277% over 2024
- Net income up 931% over 2024
The company produced 5,065 GEOs in 2024 and is guiding for 20,000 to 23,000 GEOs in 2026 — roughly a 4x increase in just two years. Approximately 85% of the company's 2026 forecasted revenue is expected to come from gold and silver, with the remaining 15% from copper and nickel.
Since launching in June 2022, Versamet has completed over $400 million in acquisitions, steadily building its portfolio through deals with established mining companies like Equinox Gold, Sandstorm, B2Gold, Endeavour Silver, and Appian Capital Advisory. | | | Who's Backing This Company?
One thing that stands out about Versamet is the quality of its shareholder base. The company's investor roster reads like a who's who of the mining and alternative asset world.
Notable shareholders and their approximate ownership stakes include:
- B2Gold — 29%
- Tether — 13%
- Equinox Gold — 11%
- Lundin family — 9%
- Gold Mountains (Zijin) — 2%
- Insiders — approximately 11%
The board of directors is chaired by Greg Smith, co-founder and former President and CEO of Equinox Gold, and the management team is led by Dan O'Flaherty, formerly the CEO of Maverix Metals. | | | A Portfolio Built for Multiple Growth Drivers
Versamet's asset base spans seven producing assets, four near-term development projects, and 17 longer-term development and exploration stage royalties. The portfolio is spread across Canada, the United States, Mexico, Peru, Brazil, Burkina Faso, Namibia, and several other jurisdictions.
Upcoming catalysts that could drive further growth include:
- Kiaka mine in Burkina Faso ramping up after first gold pour in Q2 2025, with a feasibility study projecting 234,000 ounces of gold per year over a 20-year mine life
- Rosh Pinah mine in Namibia undergoing a major expansion expected to double annual throughput by Q3 2026
- Toega mine in Burkina Faso targeting first production in Q3 2026
- Cuiú Cuiú gold project in Brazil targeting startup in Q4 2026
- Kolpa mine in Peru expanding from 1,800 to 2,500 tonnes per day
- Blackwater mine in Canada with planned expansion from 6 million to eventually 21 million tonnes per annum
| | | The Valuation Argument
Versamet's 2026 forecasted price-to-cash-flow multiple sits at approximately 9.9x. The company states that it trades at a significant discount to peers, with comparable royalty and streaming companies trading at multiples ranging from 19x to 39x.
Analyst coverage comes from ATB, Cormark Capital Markets, Canaccord Genuity, National Bank, and Raymond James. | | | Worth Monitoring?
Versamet Royalties presents an interesting entry point into the precious metals royalty space...
With several portfolio assets approaching key production milestones and the company pursuing what it calls a dual-track growth strategy across both asset acquisitions and capital markets development, the next 12 to 18 months could bring a number of catalysts.
For those interested in the royalty and streaming model, VMET may be worth keeping on the radar.
Anyways...
That's all for now!
Until Next Time, -ZT Team | P.S. Want our text alerts? Text "ZIPTRADER" to 1-(855)-228-1598 to sign up!
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*Disseminated on Behalf of Versamet Royalties Corp. Please see disclosures below. |
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| | 5101 SANTA MONICA BLVD STE 8 #62, 90029, LOS ANGELES, CA |
| This email was sent to ignoble.experiment@arconati.us |
| *SPONSORED CONTENT* ZipTrader LLC is a publishing company, we are not financial advisors. This is not financial advice. Investments involve risk and are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. ZipTrader has been compensated thirty-four thousand USD by ACH Bank Transfer by TD Media LLC to distribute media via YouTube, email and SMS on behalf of Versamet Royalties Corp. (VMET) from March 15, 2026 to March 16, 2026. New Era Publishing Inc who paid LFG Equities who paid TD Media LLC who ultimately paid ZipTrader holds shares in the company and will not sell during any marketing campaign. However it may stand to benefit from campaign activity. ZipTrader may receive additional campaigns in the future by TD Media LLC to distribute media for Versamet Royalties Corp. (VMET). As a result of this advertisement and other marketing efforts, ZipTrader may receive advertising revenue from new advertisers and collect email addresses from readers that it may be able to monetize. As of the date of this advertisement, the owners of ZipTrader do not hold a position in Versamet Royalties Corp. (VMET). This advertisement and other marketing efforts may increase investor and market awareness, which may result in an increased number of shareholders owning and trading the securities of Versamet Royalties Corp. (VMET), increased trading volume, and possibly an increased share price of Versamet Royalties Corp. (VMET), which may or may not be temporary and decrease once the marketing arrangement has ended. See additional disclosures: https://katusaresearch.com/versamet-vmet-disclaimers
Disclaimer: This article refers to certain non-IFRS measures, including (i) Attributable Gold Equivalent Ounces, (ii) average cash cost per Attributable Gold Equivalent Ounce (iii) average cash cost margin (iv) cash flows from operating activities before working capital changes (v) cash flows from operating activities before working capital changes per share (vi) EBITDA and (vii) Adjusted EBITDA (the "Non-IFRS Measures"). The Non-IFRS measures are not standard measures under IFRS and the Company's method of calculating the Non-IFRS Measures may differ from the methods used by other issuers. Therefore, the Company's Non-IFRS measures may not be comparable to similar measures presented by other issuers. Please refer to Versamet's Management's Discussion and Analysis for the year ended 2025 for more details on non-IFRS measures, available on Versamet's profile on SEDAR+ (sedarplus.ca), on EDGAR (sec.gov/edgar), and on Versamet's website (versamet.com). |
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