Royalty Holder…..Eurasian Minerals
Revenue……………..…......$2m to $3m
Mine Life...……….............undisclosed
Commodity……………….................Gold
Operator..............................Newmont

#7 Leeville

US-based Eurasian Minerals is a prospect generator that has accumulated a respectable portfolio of royalties over the years.

Eurasian has a 0.5 per cent claim over part of the Timok copper discovery in Serbia, plus a portfolio of royalties over Newmont Mining's Leeville operation, its biggest underground mine in Nevada. Newmont does not release drill results, but Nevada-based geologists say it has been hitting “truly monstrous drill holes” on the property, suggesting the royalty has ongoing value.

Eurasian is thought to have overpaid for its Newmont royalties however, buying them via Bullion Monarch for $46m in 2012. Eurasian also has a hefty corporate overhead, offsetting its royalty revenue, and has struggled in recent years with projects in Haiti and Russia. The shares rallied in 2016, but are still only sitting where they were in 2001.

At C$121m ($91m), Eurasian's market cap is likely to be too pricey for anyone going after its royalty revenue, which totalled C$750,000 last quarter. But if Eurasian struggles to make headway elsewhere, the portfolio could come up for grabs.

 

 

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