Elemental Royalty Posts 83% Revenue Surge and US$17.7M Adjusted EBITDA
Elemental Royalty reported record Q1 revenue of US$24.3 million, an 83% year-over-year increase, and adjusted EBITDA of US$17.7 million, up 55%, driven by contributions from Karlawinda, Bonikro, Timok and Caserones. Operating cash flow jumped 340% to US$14.5 million, and cash and equivalents stood at US$69.1 million on March 31.
1. Record Q1 Financial Results
For the quarter ended March 31, 2026, Elemental delivered record revenue of US$24.3 million, an 83% increase over Q1 2025, and adjusted EBITDA of US$17.7 million, up 55%, supported by strong metal prices. Operating cash flow rose 340% to US$14.5 million, while cash and equivalents reached US$69.1 million and working capital stood at US$92.5 million.
2. Inaugural Annual Dividend
The company declared its first annual dividend of US$0.12 per share, payable quarterly in cash or Tether Gold XAU₮ tokens, reflecting management’s confidence in the sustainability of its cash flow and commitment to returning capital to shareholders.
3. Expanded Credit Facility
Elemental secured a US$150 million revolving credit facility with a US$50 million accordion feature, increasing potential liquidity to US$200 million and enhancing its capacity to pursue material growth transactions and strategic investments.
4. Portfolio Growth and TSX Listing
Gold equivalent ounces sold rose to 4,983 in Q1, driven by Karlawinda, Bonikro, Timok and Caserones operations. Post-quarter, Elemental began trading on the Toronto Stock Exchange and agreed to acquire a 2.5% net smelter return royalty on the Western Queen Gold Project, further diversifying its asset base.