Versamet Royalties Sees 594% Revenue Surge to $24M, Lists on NASDAQ
VMET•Versamet Royalties posted record Q1 revenue of $24.0 M (+594% y/y), 4,913 GEOs (+306%) and $19.5 M in operating cash flow (+1,282%). The company raised C$142 M in equity, C$22 M via private placement, commenced NASDAQ trading and secured a 3.52% Eskay Creek gold stream.
1. Record Q1 Financial Performance
Versamet delivered Q1 results with $24.0 million in revenue (up 594% y/y), 4,913 attributable gold equivalent ounces (+306%), operating cash flow before working capital of $19.5 million (+1,282%), net income of $13.8 million (+671%) and adjusted EBITDA of $18.5 million (+1,142%).
2. Equity Financing and NASDAQ Listing
The company closed a C$142 million equity financing and a C$22 million private placement, attracting new institutional and retail investors including Tether and Zijin Mining’s asset management arm, and commenced trading of its common shares on the NASDAQ to enhance liquidity.
3. Eskay Creek Gold Stream Acquisition
Post quarter, Versamet acquired a 3.52% life-of-mine gold stream on the Eskay Creek project in British Columbia, currently in construction and expected to produce over 300,000 ounces of gold annually for its first five years starting in Q2 2027.
4. 2026 Production Guidance and Catalysts
The company reaffirmed 2026 guidance of 20,000–23,000 GEOs, citing upcoming catalysts such as Toega’s first ore delivery in Q3, completion of Rosh Pinah’s RP2.0 expansion, Kolpa’s throughput upgrade and commissioning of Cuiu Cuiu’s gold-in-oxide plant.
