Royalty Holder…………Coeur Mining
Revenue……………..…..…………….$15m
Mine Life...……………..…………………n.a.
Commodity……………….Silver & Gold
Operator………………………………..…n.a.

#6 Coeur Mining

Coeur Mining boasts its own royalty portfolio, having paid $24m for gold royalty upstart Global Royalty Corp in 2013.

Combined with existing royalties inside Coeur, at its peak, the unit generated annual cash flow of $15m. Its largest source of revenue is a capped silver stream over the Endeavor mine in New South Wales, owned by Japan's Toho Zinc, but Coeur also has royalties over Dynasty Mining in Ecuador, McEwen Mining in Mexico, Mandalay Resources in Chile and OceanaGold in New Zealand.

Led by former investment banker Mark Kucher, Coeur planned to use royalties to gain a foothold on prospective properties, as an alternative to taking equity stakes, but dealflow has failed to materialise, limited to a $4m agreement in Mexico in 2014.

Given the low rating being put on Coeur's stock (down 87 per cent in 2 years), the company may see more value in selling its royalty revenue to a company able to pay a royalty-type premium.

 

 

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