2025

Royalty model, gold momentum, development pipeline and Cortez growth.

Gold-focused portfolio, EBITDA margin, dividend growth and optionality.

Royalty model, liquidity for large deals, growth projects and valuation.

Gold leverage, high margins, diversified portfolio and growth projects.

Royalty model, dividend growth, limited operating risk and Cortez growth.

40+ years of execution, scalable model, diversification and optionality.

Gold-focused portfolio, margin expansion, growth projects and valuation.

Low-risk gold leverage, capital allocation, portfolio and reserves data.

Consistent execution, business model, Back River, Great Bear and reserves.

Gold leverage, capital allocation, diversified portfolio and Great Bear.

Low-risk gold leverage, growth assets, Cortez, Great Bear and reserves.