Canada’s EMX Royalty Corporation has announced it expects to obtain an initial quarterly after-tax payment of some US$974,000 from the firm’s effective 0.418% net smelter return royalty (NSR) interest in the Caserones copper-molybdenum mine in northern Chile.
“This payment to EMX, anticipated later this month, is based upon second quarter … royalty distributions for copper and molybdenum production,” the company said in a statement.
Earlier this year, EMX formed a 50-50 strategic partnership with Altus Strategies Plc to secure an effective 0.836% NSR royalty on Caserones for some US$68.2 million.
“EMX and Altus each control an effective 0.418% royalty interest after each contributed US$34.1 million towards the Caserones Royalty pur-chase price,” according to the statement. “The effective date of the Ca-serones Royalty acquisition was April 1, 2021, and as a result will include proceeds from Q2, 2021, thereby establishing immediate cash flow to EMX.”