Strong Growth in Base Metals Portfolio
The base metals portfolio saw an 81% increase in performance due to strong volume and pricing dynamics, with key contributions from Voisey's Bay and Mantos Blancos.
Record Production and Revenue from Mantos Blancos
Mantos Blancos copper royalty achieved record levels of production, contributing significantly to revenue growth, with the potential for further expansion in the future.
Positive Cobalt Market Dynamics
The DRC export ban on cobalt has stabilized prices between $18 to $20 per pound, providing an uplift compared to the previous $13 per pound.
Mimbula Copper Stream Acquisition
The acquisition of the Mimbula copper stream has already contributed $0.7 million and is expected to show more momentum in the second half of the year.
Successful Sale of Dugbe Gold Royalty
The sale of the noncore Dugbe Gold Royalty helps accelerate deleveraging and provides flexibility for future capital reallocation.
Improved Financial Performance
Free cash flow conversion is expected to improve with a lower effective tax rate and potential reductions in finance costs due to interest rate cuts.