$53.9B
USD
Market cap · 2026–07 · week 27
🇨🇦 Canada, Vancouver
Country
Royalties & Streaming
Sector
Streamer · Senior · Gold · Silver · Brazil · Canada · Peru
Last updated 21 June 2026
Overview:
Wheaton Precious Metals Corp. is a senior precious metals streaming company headquartered in Vancouver, Canada, with portfolio exposure across the Americas, Europe, and Africa spanning 18 countries. The portfolio comprises 42 long-term agreements with 34 different mining counterparties, structured as 34 precious metal purchase agreements (of which 3 are early deposit agreements) and 5 royalty agreements, covering 23 mining assets that are currently operating, 23 at various stages of development, and 2 in care and maintenance. Key assets include Salobo, Antamina, Peñasquito, Constancia, and Stillwater, complemented by emerging contributors such as Blackwater, Goose, and Platreef. The business model provides investors with leverage to gold, silver, palladium, and cobalt prices and exploration upside while avoiding the direct capital, environmental, and operating costs borne by mine operators. Under each purchase agreement, the entity makes an upfront payment plus a fixed per-unit cash payment for every ounce or pound delivered, generally set at or below prevailing market prices, insulating margins from cost inflation. Fixed per-ounce production payments across most operating streams underpin amongst the highest cash operating margins in the mining industry, supporting a competitive, growing dividend and continued accretive acquisitions. The organization's standing as a partner of choice that offers innovative and reliable capital solutions provides a durable competitive advantage. As a non-operator, the group remains exposed to commodity price cycles and the operational performance and decisions of third-party mine operators.
Strategy:
Strategic focus centers on enhancing the portfolio through the selective acquisition of high-quality streams on tier-one assets backed by experienced management teams. The enterprise intends to unlock value through scale and diversification, pursuing accretive transactions while preserving balance-sheet flexibility to act opportunistically across the commodity cycle. A core objective is to sustain a progressively growing dividend, which is formulaically linked to operating cash flow, without compromising the capacity to fund new growth. Capital allocation is prioritized toward geologically sound and technically robust projects, blending immediate cash flow from operating streams with a deep pipeline of development and pre-development interests. The group advances organic growth as development assets such as Blackwater, Goose, Platreef, Fenix, Mineral Park, and Marmato move toward and ramp into production. A defining growth target is approximately 50% production growth to 1.2 million gold equivalent ounces by 2030, driven by contributions from existing operating assets and the maturing development book, with attributable production further supported by recently added streams on Spring Valley, Hemlo, and the expanded Antamina silver interest.
Management:
Executive leadership is headed by President & Chief Executive Officer Haytham Hodaly, who assumed the role effective March 31, 2026 after playing a central part in the company's corporate development and growth strategy, succeeding long-tenured leader Randy Smallwood. The Board is chaired by Non-Executive Chair Randy Smallwood, a co-founder who led the enterprise as Chief Executive Officer for more than 15 years before transitioning to the chair. George Brack, who had served as Chair of the Board since 2022, now serves as Lead Independent Director, reinforcing independent oversight following the leadership transition. The senior team includes newly appointed Chief Financial Officer Vincent Lau and Executive Vice President, Strategy and General Counsel Curt Bernardi, who steward treasury discipline and transaction structuring. Governance is exercised through a Board of Directors operating under a framework of standing committees covering audit, governance and compensation matters, with directors required to disclose and manage potential conflicts of interest. The leadership group maintains a deliberately lean organizational structure, allowing a small specialized team to manage a large, globally diversified portfolio of streaming and royalty interests.
Sustainability:
The organization's sustainability framework is guided by environmental and corporate social responsibility policies, with sustainability considerations embedded directly into investment decisions and ongoing engagement with mining partners. The group works collaboratively with operators to support community investments that drive positive social and environmental outcomes at the asset level rather than operating mines itself. In 2025, the enterprise contributed nearly $9.4 million to over 150 charitable causes and initiatives worldwide, supporting education, health, community development, and environmental stewardship across its operating jurisdictions. A signature initiative is the Future of Mining Challenge, whose second edition focused on sustainable water management and selected Cetos Water as its winner for technology that converts mining wastewater into clean, reusable water. The company supports responsible mining practices among its counterparties and integrates environmental, social, and governance criteria into the due-diligence process applied before entering new stream and royalty agreements. These commitments reinforce the partner-of-choice positioning that underpins the firm's access to high-quality assets and operators.
Structure:
A major structural development came on February 16, 2026, when the company entered into a definitive purchase agreement with BHP Group Limited for BHP's 33.75% portion of the silver produced at the Antamina mine in Peru, for total upfront cash consideration of $4.3 billion; upon closing the combined silver interest rises to 67.5%, layered on top of the existing Glencore-sourced stream and commencing April 1, 2026. On November 6, 2025, the enterprise entered into a purchase agreement with Waterton Gold LP for gold production from the Spring Valley project in Nevada, committing total upfront cash consideration of $670 million in staged installments plus an associated facility of up to $150 million. On November 26, 2025, the group entered into a $300 million purchase agreement with Hemlo Mining Corp. covering the operating Hemlo gold mine in Ontario, alongside a $30 million (Cdn$42 million) participation in Hemlo's October 2025 equity offering. In connection with CMOC's acquisition of Lumina, CMOC exercised a 33% buy-back option under the Cangrejos agreement for a cash payment of $102 million, generating an $86 million gain. The corporate structure is held through wholly-owned subsidiaries including Wheaton Precious Metals International Ltd., Silver Wheaton Luxembourg S.a.r.l., and Wheaton Precious Metals (Cayman) Co., which hold many of the international stream agreements.
Hedge:
The treasury policy maintains an unhedged posture across long-term commodity exposures so that shareholders retain direct, undiluted leverage to gold, silver, palladium, and cobalt prices over the life of each agreement. To mitigate short-term volatility, the policy permits occasionally entering into forward contracts in respect of deliveries that the company is highly confident will occur within a given quarter, a tactical rather than structural use of derivatives. As of December 31, 2025, the company had not used derivative financial instruments to manage the risks associated with its long-term operations and accordingly remained inherently exposed to currency, interest-rate, and commodity price fluctuations.
Source:
Wheaton Precious Metals Corp. - Annual Report - 2025
Stream Operating · 17 projects
Salobo
Asset · Stream · Operating
Brazil
Gold
4/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Vale SA
Operator name:
Vale SA
Country:
Brazil
Country:
Brazil
Interest conditions:
75% of payable gold; Per ounce cash payment of $433; The Company will be required to make annual payments of $8 million over a 10-year period if the Salobo mine implements a high-grade mine plan.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Salobo mine operated by Vale in Brazil. Expected to deliver significant attributable gold production.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
75% of payable gold; Per ounce cash payment of $433; The Company will be required to make annual payments of $8 million over a 10-year period if the Salobo mine implements a high-grade mine plan.
|
8.29 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
75% of payable gold; Per ounce cash payment of $433; The Company will be required to make annual payments of $8 million over a 10-year period if the Salobo mine implements a high-grade mine plan.
8.29 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
6.22 moz
|
6.22 moz
|
Commodity
Gold
Prov. & Prob. (share %)
6.22 moz
Total (share %)
6.22 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Antamina
Asset · Stream · Operating
Peru
Silver
2/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Glencore / BHP
Operator name:
Glencore / BHP
Country:
Peru
Country:
Peru
Interest conditions:
33.75% of payable silver from Glencore, reducing to 22.5% after 140 million ounces; Additional 33.75% of payable silver from BHP effective April 1, 2026, reducing to 22.5% after 100 million ounces; Per ounce cash payment of 20% of spot price.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Antamina mine operated by Glencore and BHP in Peru.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
33.75% of payable silver from Glencore, reducing to 22.5% after 140 million ounces; Additional 33.75% of payable silver from BHP effective April 1, 2026, reducing to 22.5% after 100 million ounces; Per ounce cash payment of 20% of spot price.
|
72.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
33.75% of payable silver from Glencore, reducing to 22.5% after 140 million ounces; Additional 33.75% of payable silver from BHP effective April 1, 2026, reducing to 22.5% after 100 million ounces; Per ounce cash payment of 20% of spot price.
72.8 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
49.14 moz
|
49.14 moz
|
Commodity
Silver
Prov. & Prob. (share %)
49.14 moz
Total (share %)
49.14 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Antamina
|
🇵🇪 Peru, Ancash
|
1.66% NPI royalty on all metals produced from areas subject to our royalty interest at the Antamina mine.
|
Antamina
Location
Conditions
🇵🇪 Peru, Ancash
1.66% NPI royalty on all metals produced from areas subject to our royalty interest at the Antamina mine.
| Company | Stream | ||
|---|---|---|---|
| Location | Conditions | ||
|
Antamina
|
🇵🇪 Peru, Ancash
|
Stream based on recovered silver from Teck's attributable 22.5% interest in Antamina, subject to fixed 90% payability; Ongoing payment of 5% of spot silver price; Stream reduces by one-third after 86 Moz Ag delivered.
|
Antamina
Location
Conditions
🇵🇪 Peru, Ancash
Stream based on recovered silver from Teck's attributable 22.5% interest in Antamina, subject to fixed 90% payability; Ongoing payment of 5% of spot silver price; Stream reduces by one-third after 86 Moz Ag delivered.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Peñasquito
Asset · Stream · Operating
Mexico
Silver
2/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Newmont Corp.
Operator name:
Newmont Corp.
Country:
Mexico
Country:
Mexico
Interest conditions:
25% of payable silver; Per ounce cash payment of $4.62.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Peñasquito mine operated by Newmont in Mexico.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
25% of payable silver; Per ounce cash payment of $4.62.
|
57.5 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
25% of payable silver; Per ounce cash payment of $4.62.
57.5 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
14.38 moz
|
14.38 moz
|
Commodity
Silver
Prov. & Prob. (share %)
14.38 moz
Total (share %)
14.38 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Peñasquito
|
🇲🇽 Mexico, Zacatecas
|
2.0% NSR royalty on all metals produced from areas subject to our royalty interest at the Peñasquito mine. Acquired in January 2007 from Minera Kennecott S.A. de C.V.
|
Peñasquito
Location
Conditions
🇲🇽 Mexico, Zacatecas
2.0% NSR royalty on all metals produced from areas subject to our royalty interest at the Peñasquito mine. Acquired in January 2007 from Minera Kennecott S.A. de C.V.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Aljustrel
Asset · Stream · Operating
Portugal, Iberian Pyrite Belt
Silver
2/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Almina
Operator name:
Almina
Country:
Portugal
Country:
Portugal
Geological province:
Iberian Pyrite Belt
Geological province:
Iberian Pyrite Belt
Interest conditions:
100% of payable silver contained in concentrate containing less than 15% copper for 50 years.
Description
As at 31 December 2025
Wheaton 50-year silver stream on the Aljustrel mine operated by Almina in Portugal.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver contained in concentrate containing less than 15% copper for 50 years.
|
36 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver contained in concentrate containing less than 15% copper for 50 years.
36 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
36 moz
|
36 moz
|
Commodity
Silver
Prov. & Prob. (share %)
36 moz
Total (share %)
36 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Constancia
Asset · Stream · Operating
Peru
Silver
2/5
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Hudbay
Operator name:
Hudbay
Country:
Peru
Country:
Peru
Interest conditions:
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
Description
As at 31 December 2025
Wheaton life-of-mine silver and gold stream on the Constancia mine operated by Hudbay in Peru.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
|
42.1 moz P&P + M&I
|
|
Gold
|
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
|
0.34 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
42.1 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Gold
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
0.34 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
42.1 moz
|
42.1 moz
|
|
Gold
|
0.34 moz
|
0.34 moz
|
Commodity
Silver
Prov. & Prob. (share %)
42.1 moz
Total (share %)
42.1 moz
Commodity
Gold
Prov. & Prob. (share %)
0.34 moz
Total (share %)
0.34 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Los Filos
Asset · Stream · Operating
Mexico, Guerrero Gold Belt
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Equinox Gold Corp.
Operator name:
Equinox Gold Corp.
Country:
Mexico
Country:
Mexico
Geological province:
Guerrero Gold Belt
Geological province:
Guerrero Gold Belt
Interest conditions:
100% of payable silver for 25 years; Per ounce cash payment of $4.74.
Description
As at 31 December 2025
Wheaton 25-year silver stream on the Los Filos mine operated by Equinox Gold in Mexico.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver for 25 years; Per ounce cash payment of $4.74.
|
12.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver for 25 years; Per ounce cash payment of $4.74.
12.8 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
12.8 moz
|
12.8 moz
|
Commodity
Silver
Prov. & Prob. (share %)
12.8 moz
Total (share %)
12.8 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Marmato
Asset · Stream · Operating
Colombia
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Aris Mining Corp.
Operator name:
Aris Mining Corp.
Country:
Colombia
Country:
Colombia
Interest conditions:
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
Description
As at 31 December 2025
Wheaton life-of-mine silver and gold stream on the Marmato mine operated by Aris Mining in Colombia.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
|
0.33 moz P&P + M&I
|
|
Silver
|
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
|
5.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
0.33 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
5.8 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.33 moz
|
0.33 moz
|
|
Silver
|
5.8 moz
|
5.8 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.33 moz
Total (share %)
0.33 moz
Commodity
Silver
Prov. & Prob. (share %)
5.8 moz
Total (share %)
5.8 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Neves-Corvo
Asset · Stream · Operating
Portugal, Iberian Pyrite Belt
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Boliden
Operator name:
Boliden
Country:
Portugal
Country:
Portugal
Geological province:
Iberian Pyrite Belt
Geological province:
Iberian Pyrite Belt
Interest conditions:
100% of payable silver for 50 years; Per ounce cash payment of $4.55.
Description
As at 31 December 2025
Wheaton 50-year silver stream on the Neves-Corvo mine operated by Boliden in Portugal.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver for 50 years; Per ounce cash payment of $4.55.
|
23.6 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver for 50 years; Per ounce cash payment of $4.55.
23.6 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
23.6 moz
|
23.6 moz
|
Commodity
Silver
Prov. & Prob. (share %)
23.6 moz
Total (share %)
23.6 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Stillwater
Asset · Stream · Operating
United States, Stillwater Complex
Gold
1/5
Palladium
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Sibanye-Stillwater Ltd.
Operator name:
Sibanye-Stillwater Ltd.
Country:
United States
Country:
United States
Geological province:
Stillwater Complex
Geological province:
Stillwater Complex
Interest conditions:
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
Description
As at 31 December 2025
Wheaton life-of-mine gold and palladium stream on the Stillwater mines operated by Sibanye-Stillwater in the United States.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
|
0.53 moz P&P + M&I
|
|
Palladium
|
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
|
0.48 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
0.53 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Palladium
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
0.48 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.53 moz
|
0.53 moz
|
|
Palladium
|
0.48 moz
|
0.48 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.53 moz
Total (share %)
0.53 moz
Commodity
Palladium
Prov. & Prob. (share %)
0.48 moz
Total (share %)
0.48 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Zinkgruvan
Asset · Stream · Operating
Sweden
Silver
2/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Boliden
Operator name:
Boliden
Country:
Sweden
Country:
Sweden
Interest conditions:
100% of payable silver; Per ounce cash payment of $4.81.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Zinkgruvan mine operated by Boliden in Sweden.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver; Per ounce cash payment of $4.81.
|
31.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver; Per ounce cash payment of $4.81.
31.8 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
31.8 moz
|
31.8 moz
|
Commodity
Silver
Prov. & Prob. (share %)
31.8 moz
Total (share %)
31.8 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Sudbury
Asset · Stream · Operating
Canada, Sudbury Igneous Complex
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Vale SA
Operator name:
Vale SA
Country:
Canada
Country:
Canada
Geological province:
Sudbury Igneous Complex
Geological province:
Sudbury Igneous Complex
Interest conditions:
70% of payable gold for 20 years; Per ounce cash payment of $400.
Description
As at 31 December 2025
Wheaton 20-year gold stream on the Sudbury mines operated by Vale in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
70% of payable gold for 20 years; Per ounce cash payment of $400.
|
0.29 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
70% of payable gold for 20 years; Per ounce cash payment of $400.
0.29 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.2 moz
|
0.2 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.2 moz
Total (share %)
0.2 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Stream | ||
|---|---|---|---|
| Location | Conditions | ||
|
Sudbury
|
🇨🇦 Canada, Ontario
|
50% of precious metals contained in ore produced from the footwall portions of McCreedy West, Levack and Podolsky. Ongoing payment of 60% of spot price when gold exceeds $1,333/oz (capped at $1,200/oz).
|
Location
Conditions
🇨🇦 Canada, Ontario
50% of precious metals contained in ore produced from the footwall portions of McCreedy West, Levack and Podolsky. Ongoing payment of 60% of spot price when gold exceeds $1,333/oz (capped at $1,200/oz).
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Cozamin
Asset · Stream · Operating
Mexico
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Capstone Copper Corp.
Operator name:
Capstone Copper Corp.
Country:
Mexico
Country:
Mexico
Interest conditions:
50% of payable silver until 10 million ounces, then 33%.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Cozamin mine operated by Capstone in Mexico.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
50% of payable silver until 10 million ounces, then 33%.
|
3.7 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
50% of payable silver until 10 million ounces, then 33%.
3.7 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
1.85 moz
|
1.85 moz
|
Commodity
Silver
Prov. & Prob. (share %)
1.85 moz
Total (share %)
1.85 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Cozamin Mine
|
🇲🇽 Mexico, Zacatecas
|
1.0% NSR Cu/Ag on southeastern portion of Cozamin mine (Calicanto and Mala Noche veins)
|
Cozamin Mine
Location
Conditions
🇲🇽 Mexico, Zacatecas
1.0% NSR Cu/Ag on southeastern portion of Cozamin mine (Calicanto and Mala Noche veins)
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Voisey's Bay
Asset · Stream · Operating
Canada
Cobalt
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Vale SA
Operator name:
Vale SA
Country:
Canada
Country:
Canada
Interest conditions:
42.4% of payable cobalt until 31 million pounds, then 21.2%; Per pound cash payment of $9.02.
Description
As at 31 December 2025
Wheaton life-of-mine cobalt stream on the Voisey's Bay mine operated by Vale in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Cobalt
|
42.4% of payable cobalt until 31 million pounds, then 21.2%; Per pound cash payment of $9.02.
|
13.06 kt P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Cobalt
42.4% of payable cobalt until 31 million pounds, then 21.2%; Per pound cash payment of $9.02.
13.06 kt P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Cobalt
|
5.54 kt
|
5.54 kt
|
Commodity
Cobalt
Prov. & Prob. (share %)
5.54 kt
Total (share %)
5.54 kt
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Voisey's Bay
|
🇨🇦 Canada, Newfoundland and Labrador
|
3% NVR on all metals produced from Voisey’s Bay, of which Royal Gold, Inc.’s wholly-owned indirect subsidiary, International Royalty Corporation, is the general partner and 90% owner.
|
Voisey's Bay
Location
Conditions
🇨🇦 Canada, Newfoundland and Labrador
3% NVR on all metals produced from Voisey’s Bay, of which Royal Gold, Inc.’s wholly-owned indirect subsidiary, International Royalty Corporation, is the general partner and 90% owner.
| Company | Stream | ||
|---|---|---|---|
| Location | Conditions | ||
|
Voisey's Bay
|
🇨🇦 Canada, Newfoundland and Labrador
|
22.82% stream of all cobalt production from open pit and underground operations; Steps down to 11.41% once 7,600t of finished cobalt has been delivered; Purchase price is 18% of industry cobalt reference price until the original $300M upfront deposit is reduced to nil, increasing to 22% thereafter.
|
Voisey's Bay
Location
Conditions
🇨🇦 Canada, Newfoundland and Labrador
22.82% stream of all cobalt production from open pit and underground operations; Steps down to 11.41% once 7,600t of finished cobalt has been delivered; Purchase price is 18% of industry cobalt reference price until the original $300M upfront deposit is reduced to nil, increasing to 22% thereafter.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
San Dimas
Asset · Stream · Operating
Mexico
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
First Majestic Silver Corp.
Operator name:
First Majestic Silver Corp.
Country:
Mexico
Country:
Mexico
Interest conditions:
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the San Dimas mine operated by First Majestic in Mexico.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
|
0.07 moz P&P + M&I
|
|
Silver
|
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
|
6.4 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
0.07 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
6.4 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.02 moz
|
0.02 moz
|
|
Silver
|
1.6 moz
|
1.6 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz
Total (share %)
0.02 moz
Commodity
Silver
Prov. & Prob. (share %)
1.6 moz
Total (share %)
1.6 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Hemlo
Asset · Stream · Operating
Canada
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Hemlo Mining Corp.
Operator name:
Hemlo Mining Corp.
Country:
Canada
Country:
Canada
Interest conditions:
10.13% of payable gold until 135,750 ounces, then 6.75% until an additional 117,998 ounces, then 4.5%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Hemlo mine operated by Hemlo Mining Corp. in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
10.13% of payable gold until 135,750 ounces, then 6.75% until an additional 117,998 ounces, then 4.5%.
|
0.07 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
10.13% of payable gold until 135,750 ounces, then 6.75% until an additional 117,998 ounces, then 4.5%.
0.07 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.01 moz
|
0.01 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.01 moz
Total (share %)
0.01 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Hemlo
|
🇨🇦 Canada, Ontario
|
3% NSR royalty and a 50% NPI royalty on a portion of the western down-dip underground extension, principally the Lower C Zone. The 50% NPI portion of the royalty began paying in the third quarter of 2012 after the upfront capital costs had been recovered by Barrick.
|
|
|
Hemlo (TPFM Royalty)
|
🇨🇦 Canada, Ontario
|
NSR royalty on Hemlo gold mine
|
Location
Conditions
🇨🇦 Canada, Ontario
3% NSR royalty and a 50% NPI royalty on a portion of the western down-dip underground extension, principally the Lower C Zone. The 50% NPI portion of the royalty began paying in the third quarter of 2012 after the upfront capital costs had been recovered by Barrick.
Hemlo (TPFM Royalty)
Location
Conditions
🇨🇦 Canada, Ontario
NSR royalty on Hemlo gold mine
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Blackwater
Asset · Stream · Operating
Canada
Silver
2/5
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Artemis Gold Inc.
Operator name:
Artemis Gold Inc.
Country:
Canada
Country:
Canada
Interest conditions:
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Blackwater mine operated by Artemis Gold in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
|
31.6 moz P&P + M&I
|
|
Gold
|
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
|
0.57 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
31.6 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Gold
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
0.57 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
2.53 moz
|
2.53 moz
|
|
Gold
|
0.05 moz
|
0.05 moz
|
Commodity
Silver
Prov. & Prob. (share %)
2.53 moz
Total (share %)
2.53 moz
Commodity
Gold
Prov. & Prob. (share %)
0.05 moz
Total (share %)
0.05 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Blackwater
|
🇨🇦 Canada, British Columbia
|
0.21% NSR royalty on gold and silver.
|
Blackwater
Location
Conditions
🇨🇦 Canada, British Columbia
0.21% NSR royalty on gold and silver.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Goose
Asset · Stream · Operating
Canada
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Operating
Status:
Operating
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
B2Gold Corp.
Operator name:
B2Gold Corp.
Country:
Canada
Country:
Canada
Interest conditions:
2.78% of payable gold until 87,100 ounces, then 1.44% until 134,000 ounces, then 1.0%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Goose mine operated by B2Gold in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
2.78% of payable gold until 87,100 ounces, then 1.44% until 134,000 ounces, then 1.0%.
|
0.07 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
2.78% of payable gold until 87,100 ounces, then 1.44% until 134,000 ounces, then 1.0%.
0.07 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Stream Development · 19 projects
Copper World Complex
Asset · Stream · Development
United States
Silver
2/5
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Hudbay
Operator name:
Hudbay
Country:
United States
Country:
United States
Interest conditions:
100% of payable gold and silver.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Copper World Complex operated by Hudbay in the United States.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable gold and silver.
|
67.4 moz P&P + M&I
|
|
Gold
|
100% of payable gold and silver.
|
0.31 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable gold and silver.
67.4 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold and silver.
0.31 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
67.4 moz
|
67.4 moz
|
|
Gold
|
0.31 moz
|
0.31 moz
|
Commodity
Silver
Prov. & Prob. (share %)
67.4 moz
Total (share %)
67.4 moz
Commodity
Gold
Prov. & Prob. (share %)
0.31 moz
Total (share %)
0.31 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Copper World Project
|
🇺🇸 United States, Arizona
|
Arizona, United States | Operator: Hudbay Minerals Inc. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 2.085%
|
|
|
Copper World
|
🇺🇸 United States, Arizona
|
0.315% NSR Royalty (right of first refusal for additional 0.360% NSR Royalty).
|
Copper World Project
Location
Conditions
🇺🇸 United States, Arizona
Arizona, United States | Operator: Hudbay Minerals Inc. | Metals: Cu, Mo, Ag & Au | Royalty: NSR: 2.085%
Location
Conditions
🇺🇸 United States, Arizona
0.315% NSR Royalty (right of first refusal for additional 0.360% NSR Royalty).
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Kutcho
Asset · Stream · Development
Canada
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Kutcho
Operator name:
Kutcho
Country:
Canada
Country:
Canada
Interest conditions:
100% of payable gold and silver.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Kutcho project operated by Kutcho in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
100% of payable gold and silver.
|
0.21 moz P&P + M&I
|
|
Silver
|
100% of payable gold and silver.
|
15.6 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold and silver.
0.21 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
100% of payable gold and silver.
15.6 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.21 moz
|
0.21 moz
|
|
Silver
|
15.6 moz
|
15.6 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.21 moz
Total (share %)
0.21 moz
Commodity
Silver
Prov. & Prob. (share %)
15.6 moz
Total (share %)
15.6 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Kutcho Creek
|
🇨🇦 Canada, British Columbia
|
Kutcho Creek polymetallic development royalty
|
Kutcho Creek
Location
Conditions
🇨🇦 Canada, British Columbia
Kutcho Creek polymetallic development royalty
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Marathon
Asset · Stream · Development
Canada
Gold
1/5
Platinum
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Generation Mining Ltd.
Operator name:
Generation Mining Ltd.
Country:
Canada
Country:
Canada
Interest conditions:
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
Description
As at 31 December 2025
Wheaton life-of-mine gold and platinum stream on the Marathon project operated by Generation Mining in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
|
0.28 moz P&P + M&I
|
|
Platinum
|
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
|
0.18 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
0.28 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Platinum
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
0.18 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.28 moz
|
0.28 moz
|
|
Platinum
|
0.18 moz
|
0.18 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.28 moz
Total (share %)
0.28 moz
Commodity
Platinum
Prov. & Prob. (share %)
0.18 moz
Total (share %)
0.18 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Mineral Park
Asset · Stream · Development
United States
Silver
2/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Waterton Copper LP
Operator name:
Waterton Copper LP
Country:
United States
Country:
United States
Interest conditions:
100% of payable silver.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Mineral Park mine operated by Waterton Copper in the United States.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver.
|
28.9 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver.
28.9 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Silver
|
28.9 moz
|
28.9 moz
|
Commodity
Silver
Prov. & Prob. (share %)
28.9 moz
Total (share %)
28.9 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Santo Domingo
Asset · Stream · Development
Chile
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Capstone Copper Corp.
Operator name:
Capstone Copper Corp.
Country:
Chile
Country:
Chile
Interest conditions:
100% of payable gold until 285,000 ounces, then 67%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Santo Domingo project operated by Capstone in Chile.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
100% of payable gold until 285,000 ounces, then 67%.
|
0.61 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold until 285,000 ounces, then 67%.
0.61 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.61 moz
|
0.61 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.61 moz
Total (share %)
0.61 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Stratoni
Asset · Stream · Development
Greece
Silver
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Eldorado Gold Corp.
Operator name:
Eldorado Gold Corp.
Country:
Greece
Country:
Greece
Interest conditions:
100% of payable silver.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Stratoni mine operated by Eldorado Gold in Greece.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
100% of payable silver.
|
-
|
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
El Domo
Asset · Stream · Development
Ecuador
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Silvercorp Metals Inc.
Operator name:
Silvercorp Metals Inc.
Country:
Ecuador
Country:
Ecuador
Interest conditions:
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
Description
As at 31 December 2025
Wheaton life-of-mine silver and gold stream on the El Domo project operated by Silvercorp in Ecuador.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
|
0.26 moz P&P + M&I
|
|
Silver
|
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
|
7.1 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
0.26 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
7.1 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.2 moz
|
0.2 moz
|
|
Silver
|
5.32 moz
|
5.32 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.2 moz
Total (share %)
0.2 moz
Commodity
Silver
Prov. & Prob. (share %)
5.32 moz
Total (share %)
5.32 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Platreef
Asset · Stream · Development
South Africa, Bushveld Igneous Complex
Gold
1/5
Palladium
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Ivanhoe Mines Ltd.
Operator name:
Ivanhoe Mines Ltd.
Country:
South Africa
Country:
South Africa
Geological province:
Bushveld Igneous Complex
Geological province:
Bushveld Igneous Complex
Interest conditions:
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
Description
As at 31 December 2025
Wheaton life-of-mine gold, palladium, and platinum stream on the Platreef project operated by Ivanhoe Mines in South Africa.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.67 moz P&P + M&I
|
|
Palladium
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.35 moz P&P + M&I
|
|
Platinum
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.34 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.67 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Palladium
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.35 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Platinum
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.34 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.42 moz
|
0.42 moz
|
|
Palladium
|
0.22 moz
|
0.22 moz
|
|
Platinum
|
0.21 moz
|
0.21 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.42 moz
Total (share %)
0.42 moz
Commodity
Palladium
Prov. & Prob. (share %)
0.22 moz
Total (share %)
0.22 moz
Commodity
Platinum
Prov. & Prob. (share %)
0.21 moz
Total (share %)
0.21 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Stream | ||
|---|---|---|---|
| Location | Conditions | ||
|
Platreef
|
🇿🇦 South Africa, Limpopo
|
37.5% of payable gold, until 131,250 ounces of gold have been delivered; then, 30% of payable gold until 256,980 cumulative ounces have been delivered; then, if 256,980 cumulative ounces have not been delivered by December 7, 2061, 1.875% of payable gold thereafter. The gold stream is based on all recovered gold produced from Platreef, subject to a fixed payability of 80%. Royal Gold will make ongoing payments of $100 per ounce for each ounce of gold delivered until 256,980 ounces have been delivered, and then 80% of the spot price of gold for each ounce delivered thereafter.
|
Platreef
Location
Conditions
🇿🇦 South Africa, Limpopo
37.5% of payable gold, until 131,250 ounces of gold have been delivered; then, 30% of payable gold until 256,980 cumulative ounces have been delivered; then, if 256,980 cumulative ounces have not been delivered by December 7, 2061, 1.875% of payable gold thereafter. The gold stream is based on all recovered gold produced from Platreef, subject to a fixed payability of 80%. Royal Gold will make ongoing payments of $100 per ounce for each ounce of gold delivered until 256,980 ounces have been delivered, and then 80% of the spot price of gold for each ounce delivered thereafter.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Cotabambas
Asset · Stream · Development
Peru
GoldSilver
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Panoro
Operator name:
Panoro
Country:
Peru
Country:
Peru
Interest conditions:
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Cotabambas project operated by Panoro in Peru.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
|
-
|
|
Silver
|
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
|
-
|
Commodity
Conditions
Reserves & Resources
Gold
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
-
Commodity
Conditions
Reserves & Resources
Silver
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
El Alto
Asset · Stream · Development
Chile
Silver
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Barrick
Operator name:
Barrick
Country:
Chile
Country:
Chile
Interest conditions:
25% of payable silver.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the El Alto project operated by Barrick in Chile and Argentina.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
25% of payable silver.
|
-
|
Commodity
Conditions
Reserves & Resources
Silver
25% of payable silver.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Fenix
Asset · Stream · Development
Chile
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Rio2 Limited
Operator name:
Rio2 Limited
Country:
Chile
Country:
Chile
Interest conditions:
22% of payable gold until 130,625 ounces, then 6% until 185,000 ounces, then 4% until 235,000 ounces, then 3.5%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Fenix project operated by Rio2 in Chile.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
22% of payable gold until 130,625 ounces, then 6% until 185,000 ounces, then 4% until 235,000 ounces, then 3.5%.
|
0.23 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
22% of payable gold until 130,625 ounces, then 6% until 185,000 ounces, then 4% until 235,000 ounces, then 3.5%.
0.23 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.05 moz
|
0.05 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.05 moz
Total (share %)
0.05 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Koné
Asset · Stream · Development
Cote Divoire
Gold
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Montage Gold Corp.
Operator name:
Montage Gold Corp.
Country:
Cote dIvoire
Country:
Cote dIvoire
Interest conditions:
19.5% of payable gold until 400,000 ounces, then 10.8% until 530,000 ounces, then 5.4%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Koné project operated by Montage Gold in Côte d'Ivoire.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
19.5% of payable gold until 400,000 ounces, then 10.8% until 530,000 ounces, then 5.4%.
|
-
|
Commodity
Conditions
Reserves & Resources
Gold
19.5% of payable gold until 400,000 ounces, then 10.8% until 530,000 ounces, then 5.4%.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Koné
|
🇨🇮 Cote dIvoire, Worodougou Region
|
Koné NSR royalty
|
Location
Conditions
🇨🇮 Cote dIvoire, Worodougou Region
Koné NSR royalty
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Navidad
Asset · Stream · Development
Argentina
Silver
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Pan American Silver Corp.
Operator name:
Pan American Silver Corp.
Country:
Argentina
Country:
Argentina
Interest conditions:
12.5% of payable silver.
Description
As at 31 December 2025
Wheaton life-of-mine silver stream on the Navidad project operated by Pan American Silver in Argentina.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Silver
|
12.5% of payable silver.
|
-
|
Commodity
Conditions
Reserves & Resources
Silver
12.5% of payable silver.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Toroparu
Asset · Stream · Development
Guyana
GoldSilver
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Aris Mining Corp.
Operator name:
Aris Mining Corp.
Country:
Guyana
Country:
Guyana
Interest conditions:
10% of payable gold; 50% of payable silver.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Toroparu project operated by Aris Mining in Guyana.
Stream interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
10% of payable gold; 50% of payable silver.
|
-
|
|
Silver
|
10% of payable gold; 50% of payable silver.
|
-
|
Commodity
Conditions
Reserves & Resources
Gold
10% of payable gold; 50% of payable silver.
-
Commodity
Conditions
Reserves & Resources
Silver
10% of payable gold; 50% of payable silver.
-
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Spring Valley
Asset · Stream · Development
United States
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Waterton Gold LP
Operator name:
Waterton Gold LP
Country:
United States
Country:
United States
Interest conditions:
8% of payable gold until 300,000 ounces, then 6%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Spring Valley project operated by Waterton Gold in the United States.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
8% of payable gold until 300,000 ounces, then 6%.
|
0.31 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
8% of payable gold until 300,000 ounces, then 6%.
0.31 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.02 moz
|
0.02 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz
Total (share %)
0.02 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
Spring Valley
|
🇺🇸 United States, Nevada
|
0.5-3.5% NSR royalty Au (acquired via Terraco Gold Feb 2026)
|
|
|
Spring Valley
|
🇺🇸 United States, Nevada
|
Up to 3% NSR sliding scale royalty on the main portion of the Spring Valley Project; 3% NSR applies when gold price is $700/oz or higher; Sliding scale NSR is not payable on the first 500,000 ounces of gold recovered.
|
Spring Valley
Location
Conditions
🇺🇸 United States, Nevada
0.5-3.5% NSR royalty Au (acquired via Terraco Gold Feb 2026)
Spring Valley
Location
Conditions
🇺🇸 United States, Nevada
Up to 3% NSR sliding scale royalty on the main portion of the Spring Valley Project; 3% NSR applies when gold price is $700/oz or higher; Sliding scale NSR is not payable on the first 500,000 ounces of gold recovered.
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Kudz Ze Kayah
Asset · Stream · Development
Canada
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
BMC Minerals
Operator name:
BMC Minerals
Country:
Canada
Country:
Canada
Interest conditions:
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
Description
As at 31 December 2025
Wheaton life-of-mine gold and silver stream on the Kudz Ze Kayah project operated by BMC Minerals in Canada.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
|
0.05 moz P&P + M&I
|
|
Silver
|
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
|
4.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
0.05 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
4.8 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
|
Silver
|
0.35 moz
|
0.35 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Commodity
Silver
Prov. & Prob. (share %)
0.35 moz
Total (share %)
0.35 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Kurmuk
Asset · Stream · Development
Ethiopia
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Allied Gold Corp.
Operator name:
Allied Gold Corp.
Country:
Ethiopia
Country:
Ethiopia
Interest conditions:
6.7% of payable gold until 220,000 ounces, then 4.8%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Kurmuk project operated by Allied Gold in Ethiopia.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
6.7% of payable gold until 220,000 ounces, then 4.8%.
|
0.18 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
6.7% of payable gold until 220,000 ounces, then 4.8%.
0.18 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.01 moz
|
0.01 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.01 moz
Total (share %)
0.01 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Cangrejos
Asset · Stream · Development
Ecuador
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
CMOC Group Limited
Operator name:
CMOC Group Limited
Country:
Ecuador
Country:
Ecuador
Interest conditions:
4.4% of payable gold until 469,000 ounces, then 2.9%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Cangrejos project operated by CMOC in Ecuador.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
4.4% of payable gold until 469,000 ounces, then 2.9%.
|
0.51 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
4.4% of payable gold until 469,000 ounces, then 2.9%.
0.51 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0.02 moz
|
0.02 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz
Total (share %)
0.02 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Curraghinalt
Asset · Stream · Development
United Kingdom
Gold
1/5
Project information
As at 31 December 2025
Type:
Stream
Type:
Stream
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Dalradian Gold
Operator name:
Dalradian Gold
Country:
United Kingdom
Country:
United Kingdom
Interest conditions:
3.05% of payable gold until 125,000 ounces, then 1.5%.
Description
As at 31 December 2025
Wheaton life-of-mine gold stream on the Curraghinalt project operated by Dalradian Gold in the United Kingdom.
Stream interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
3.05% of payable gold until 125,000 ounces, then 1.5%.
|
0.08 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
3.05% of payable gold until 125,000 ounces, then 1.5%.
0.08 moz P&P + M&I
Stream interests — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalty Development · 5 projects
Brewery Creek
Asset · Royalty · Development
Canada
Gold
Project information
As at 31 December 2025
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Victoria Gold
Operator name:
Victoria Gold
Country:
Canada
Country:
Canada
Interest conditions:
2.0% NSR Royalty for the first 600,000 ounces of gold produced, increasing to 2.75% thereafter.
Description
As at 31 December 2025
Wheaton life-of-mine NSR royalty on the Brewery Creek project operated by Victoria Gold in Canada.
Royalty interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
2.0% NSR Royalty for the first 600,000 ounces of gold produced, increasing to 2.75% thereafter.
|
-
|
Commodity
Conditions
Reserves & Resources
Gold
2.0% NSR Royalty for the first 600,000 ounces of gold produced, increasing to 2.75% thereafter.
-
Royalty interests — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
DeLamar
Asset · Royalty · Development
United States
Gold
1/5
Silver
1/5
Project information
As at 31 December 2025
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Integra
Operator name:
Integra
Country:
United States
Country:
United States
Interest conditions:
1.5% NSR Royalty on Oxide and Mixed material.
Description
As at 31 December 2025
Wheaton life-of-mine NSR royalty on the DeLamar project operated by Integra in the United States.
Royalty interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
1.5% NSR Royalty on Oxide and Mixed material.
|
0.02 moz P&P + M&I
|
|
Silver
|
1.5% NSR Royalty on Oxide and Mixed material.
|
0.8 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
1.5% NSR Royalty on Oxide and Mixed material.
0.02 moz P&P + M&I
Commodity
Conditions
Reserves & Resources
Silver
1.5% NSR Royalty on Oxide and Mixed material.
0.8 moz P&P + M&I
Royalty interests — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
|
Silver
|
0.01 moz
|
0.01 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Commodity
Silver
Prov. & Prob. (share %)
0.01 moz
Total (share %)
0.01 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Royalties & streams
All royalty and stream interests in the database that refer to this asset by name.
| Company | Royalty | ||
|---|---|---|---|
| Location | Conditions | ||
|
DeLamar
|
🇺🇸 United States, Idaho
|
DeLamar Au-Ag royalty
|
Location
Conditions
🇺🇸 United States, Idaho
DeLamar Au-Ag royalty
Royalties & streams — Assumptions
- Royalties and streams whose project name refers to this asset (matched on normalized asset name across all issuers in the database; accents and diacritics folded) and that share at least one commodity when the interest publishes commodity data. Names such as "Canadian Malartic NSR" are grouped with the Canadian Malartic project.
Mt Todd
Asset · Royalty · Development
Australia
Gold
1/5
Project information
As at 31 December 2025
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Vista
Operator name:
Vista
Country:
Australia
Country:
Australia
Interest conditions:
1.0% Gross Royalty until 3.47 million ounces of gold are delivered, then 0.667%.
Description
As at 31 December 2025
Wheaton life-of-mine gross royalty on the Mt Todd project operated by Vista in Australia.
Royalty interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
1.0% Gross Royalty until 3.47 million ounces of gold are delivered, then 0.667%.
|
0.05 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
1.0% Gross Royalty until 3.47 million ounces of gold are delivered, then 0.667%.
0.05 moz P&P + M&I
Royalty interests — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Black Pine
Asset · Royalty · Development
United States
Gold
1/5
Project information
As at 31 December 2025
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Liberty Gold
Operator name:
Liberty Gold
Country:
United States
Country:
United States
Interest conditions:
0.5% NSR Royalty; Liberty Gold has an option to repurchase 50% of the NSR for $4 million.
Description
As at 31 December 2025
Wheaton life-of-mine NSR royalty on the Black Pine project operated by Liberty Gold in the United States.
Royalty interests
As at 31 December 2025 · exclusive
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
0.5% NSR Royalty; Liberty Gold has an option to repurchase 50% of the NSR for $4 million.
|
0.02 moz P&P + M&I
|
Commodity
Conditions
Reserves & Resources
Gold
0.5% NSR Royalty; Liberty Gold has an option to repurchase 50% of the NSR for $4 million.
0.02 moz P&P + M&I
Royalty interests — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
Reserves & resources — detail
As at 31 December 2025
| Commodity | Prov. & Prob. (share %) | Total (share %) |
|---|---|---|
|
Gold
|
0 moz
|
0 moz
|
Commodity
Gold
Prov. & Prob. (share %)
0 moz
Total (share %)
0 moz
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Metates
Asset · Royalty · Development
Mexico
GoldSilver
Project information
As at 31 December 2025
Type:
Royalty
Type:
Royalty
Aggregation level:
Asset
Aggregation level:
Asset
Status:
Development
Status:
Development
Report standard:
-
Report standard:
-
Ownership %:
100
Ownership %:
100
Operator:
No
Operator:
No
Operator name:
Chesapeake
Operator name:
Chesapeake
Country:
Mexico
Country:
Mexico
Interest conditions:
0.5% NSR Royalty.
Description
As at 31 December 2025
Wheaton life-of-mine NSR royalty on the Metates project operated by Chesapeake in Mexico.
Royalty interests
As at 31 December 2025
| Commodity | Conditions | Reserves & Resources |
|---|---|---|
|
Gold
|
0.5% NSR Royalty.
|
-
|
|
Silver
|
0.5% NSR Royalty.
|
-
|
Commodity
Conditions
Reserves & Resources
Gold
0.5% NSR Royalty.
-
Commodity
Conditions
Reserves & Resources
Silver
0.5% NSR Royalty.
-
Royalty interests — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
5
Royalty interests
36
Stream interests
17
Operating projects
24
Development projects
Stream interests · 36 projects
As at 31 December 2025 · exclusive
| Stream | ||||||
|---|---|---|---|---|---|---|
| Location | Status | Commodity | Conditions | Reserves & Resources | ||
|
★
|
Antamina
Glencore / BHP
|
🇵🇪 Peru
|
Operating
|
Silver
|
33.75% of payable silver from Glencore, reducing to 22.5% after 140 million ounces; Additional 33.75% of payable silver from BHP effective April 1, 2026, reducing to 22.5% after 100 million ounces; Per ounce cash payment of 20% of spot price.
|
72.8 moz P&P + M&I
|
|
★
|
Peñasquito
Newmont Corp.
|
🇲🇽 Mexico
|
Operating
|
Silver
|
25% of payable silver; Per ounce cash payment of $4.62.
|
57.5 moz P&P + M&I
|
|
★
|
Salobo
Vale SA
|
🇧🇷 Brazil
|
Operating
|
Gold
|
75% of payable gold; Per ounce cash payment of $433; The Company will be required to make annual payments of $8 million over a 10-year period if the Salobo mine implements a high-grade mine plan.
|
8.29 moz P&P + M&I
|
|
|
Aljustrel
Almina
|
🇵🇹 Portugal
|
Operating
|
Silver
|
100% of payable silver contained in concentrate containing less than 15% copper for 50 years.
|
36 moz P&P + M&I
|
|
|
Blackwater
Artemis Gold Inc.
|
🇨🇦 Canada
|
Operating
|
Silver
|
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
|
31.6 moz P&P + M&I
|
|
|
|
|
|
Gold
|
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
|
0.57 moz P&P + M&I
|
|
|
Constancia
Hudbay
|
🇵🇪 Peru
|
Operating
|
Silver
|
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
|
42.1 moz P&P + M&I
|
|
|
|
|
|
Gold
|
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
|
0.34 moz P&P + M&I
|
|
|
Cozamin
Capstone Copper Corp.
|
🇲🇽 Mexico
|
Operating
|
Silver
|
50% of payable silver until 10 million ounces, then 33%.
|
3.7 moz P&P + M&I
|
|
|
Goose
B2Gold Corp.
|
🇨🇦 Canada
|
Operating
|
Gold
|
2.78% of payable gold until 87,100 ounces, then 1.44% until 134,000 ounces, then 1.0%.
|
0.07 moz P&P + M&I
|
|
|
Hemlo
Hemlo Mining Corp.
|
🇨🇦 Canada
|
Operating
|
Gold
|
10.13% of payable gold until 135,750 ounces, then 6.75% until an additional 117,998 ounces, then 4.5%.
|
0.07 moz P&P + M&I
|
|
|
Los Filos
Equinox Gold Corp.
|
🇲🇽 Mexico
|
Operating
|
Silver
|
100% of payable silver for 25 years; Per ounce cash payment of $4.74.
|
12.8 moz P&P + M&I
|
|
|
Marmato
Aris Mining Corp.
|
🇨🇴 Colombia
|
Operating
|
Gold
|
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
|
0.33 moz P&P + M&I
|
|
|
|
|
|
Silver
|
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
|
5.8 moz P&P + M&I
|
|
|
Neves-Corvo
Boliden
|
🇵🇹 Portugal
|
Operating
|
Silver
|
100% of payable silver for 50 years; Per ounce cash payment of $4.55.
|
23.6 moz P&P + M&I
|
|
|
San Dimas
First Majestic Silver Corp.
|
🇲🇽 Mexico
|
Operating
|
Gold
|
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
|
0.07 moz P&P + M&I
|
|
|
|
|
|
Silver
|
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
|
6.4 moz P&P + M&I
|
|
|
Stillwater
Sibanye-Stillwater Ltd.
|
🇺🇸 United States
|
Operating
|
Gold
|
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
|
0.53 moz P&P + M&I
|
|
|
|
|
|
Palladium
|
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
|
0.48 moz P&P + M&I
|
|
|
Sudbury
Vale SA
|
🇨🇦 Canada
|
Operating
|
Gold
|
70% of payable gold for 20 years; Per ounce cash payment of $400.
|
0.29 moz P&P + M&I
|
|
|
Voisey's Bay
Vale SA
|
🇨🇦 Canada
|
Operating
|
Cobalt
|
42.4% of payable cobalt until 31 million pounds, then 21.2%; Per pound cash payment of $9.02.
|
13.06 kt P&P + M&I
|
|
|
Zinkgruvan
Boliden
|
🇸🇪 Sweden
|
Operating
|
Silver
|
100% of payable silver; Per ounce cash payment of $4.81.
|
31.8 moz P&P + M&I
|
|
|
Cangrejos
CMOC Group Limited
|
🇪🇨 Ecuador
|
Development
|
Gold
|
4.4% of payable gold until 469,000 ounces, then 2.9%.
|
0.51 moz P&P + M&I
|
|
|
Copper World Complex
Hudbay
|
🇺🇸 United States
|
Development
|
Silver
|
100% of payable gold and silver.
|
67.4 moz P&P + M&I
|
|
|
|
|
|
Gold
|
100% of payable gold and silver.
|
0.31 moz P&P + M&I
|
|
|
Cotabambas
Panoro
|
🇵🇪 Peru
|
Development
|
Gold
|
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
|
-
|
|
|
|
|
|
Silver
|
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
|
-
|
|
|
Curraghinalt
Dalradian Gold
|
🇬🇧 United Kingdom
|
Development
|
Gold
|
3.05% of payable gold until 125,000 ounces, then 1.5%.
|
0.08 moz P&P + M&I
|
|
|
El Alto
Barrick
|
🇨🇱 Chile
|
Development
|
Silver
|
25% of payable silver.
|
-
|
|
|
El Domo
Silvercorp Metals Inc.
|
🇪🇨 Ecuador
|
Development
|
Gold
|
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
|
0.26 moz P&P + M&I
|
|
|
|
|
|
Silver
|
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
|
7.1 moz P&P + M&I
|
|
|
Fenix
Rio2 Limited
|
🇨🇱 Chile
|
Development
|
Gold
|
22% of payable gold until 130,625 ounces, then 6% until 185,000 ounces, then 4% until 235,000 ounces, then 3.5%.
|
0.23 moz P&P + M&I
|
|
|
Koné
Montage Gold Corp.
|
🇨🇮 Cote dIvoire
|
Development
|
Gold
|
19.5% of payable gold until 400,000 ounces, then 10.8% until 530,000 ounces, then 5.4%.
|
-
|
|
|
Kudz Ze Kayah
BMC Minerals
|
🇨🇦 Canada
|
Development
|
Gold
|
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
|
0.05 moz P&P + M&I
|
|
|
|
|
|
Silver
|
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
|
4.8 moz P&P + M&I
|
|
|
Kurmuk
Allied Gold Corp.
|
🇪🇹 Ethiopia
|
Development
|
Gold
|
6.7% of payable gold until 220,000 ounces, then 4.8%.
|
0.18 moz P&P + M&I
|
|
|
Kutcho
Kutcho
|
🇨🇦 Canada
|
Development
|
Gold
|
100% of payable gold and silver.
|
0.21 moz P&P + M&I
|
|
|
|
|
|
Silver
|
100% of payable gold and silver.
|
15.6 moz P&P + M&I
|
|
|
Marathon
Generation Mining Ltd.
|
🇨🇦 Canada
|
Development
|
Gold
|
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
|
0.28 moz P&P + M&I
|
|
|
|
|
|
Platinum
|
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
|
0.18 moz P&P + M&I
|
|
|
Mineral Park
Waterton Copper LP
|
🇺🇸 United States
|
Development
|
Silver
|
100% of payable silver.
|
28.9 moz P&P + M&I
|
|
|
Navidad
Pan American Silver Corp.
|
🇦🇷 Argentina
|
Development
|
Silver
|
12.5% of payable silver.
|
-
|
|
|
Platreef
Ivanhoe Mines Ltd.
|
🇿🇦 South Africa
|
Development
|
Gold
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.67 moz P&P + M&I
|
|
|
|
|
|
Palladium
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.35 moz P&P + M&I
|
|
|
|
|
|
Platinum
|
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
|
0.34 moz P&P + M&I
|
|
|
Santo Domingo
Capstone Copper Corp.
|
🇨🇱 Chile
|
Development
|
Gold
|
100% of payable gold until 285,000 ounces, then 67%.
|
0.61 moz P&P + M&I
|
|
|
Spring Valley
Waterton Gold LP
|
🇺🇸 United States
|
Development
|
Gold
|
8% of payable gold until 300,000 ounces, then 6%.
|
0.31 moz P&P + M&I
|
|
|
Stratoni
Eldorado Gold Corp.
|
🇬🇷 Greece
|
Development
|
Silver
|
100% of payable silver.
|
-
|
|
|
Toroparu
Aris Mining Corp.
|
🇬🇾 Guyana
|
Development
|
Gold
|
10% of payable gold; 50% of payable silver.
|
-
|
|
|
|
|
|
Silver
|
10% of payable gold; 50% of payable silver.
|
-
|
★
Antamina
Glencore / BHP
🇵🇪 Peru
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
33.75% of payable silver from Glencore, reducing to 22.5% after 140 million ounces; Additional 33.75% of payable silver from BHP effective April 1, 2026, reducing to 22.5% after 100 million ounces; Per ounce cash payment of 20% of spot price.
72.8 moz P&P + M&I
★
Peñasquito
Newmont Corp.
🇲🇽 Mexico
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
25% of payable silver; Per ounce cash payment of $4.62.
57.5 moz P&P + M&I
★
Salobo
Vale SA
🇧🇷 Brazil
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
75% of payable gold; Per ounce cash payment of $433; The Company will be required to make annual payments of $8 million over a 10-year period if the Salobo mine implements a high-grade mine plan.
8.29 moz P&P + M&I
Aljustrel
Almina
🇵🇹 Portugal
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
100% of payable silver contained in concentrate containing less than 15% copper for 50 years.
36 moz P&P + M&I
Blackwater
Artemis Gold Inc.
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
31.6 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Gold
8% of payable gold until 464,000 ounces, then 4%; 50% of payable silver until 17.8 million ounces, then 33%.
0.57 moz P&P + M&I
Constancia
Hudbay
🇵🇪 Peru
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
42.1 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Gold
100% of payable silver; 50% of payable gold; Per ounce cash payment of $6.32 for silver and $429 for gold.
0.34 moz P&P + M&I
Cozamin
Capstone Copper Corp.
🇲🇽 Mexico
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
50% of payable silver until 10 million ounces, then 33%.
3.7 moz P&P + M&I
Goose
B2Gold Corp.
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
2.78% of payable gold until 87,100 ounces, then 1.44% until 134,000 ounces, then 1.0%.
0.07 moz P&P + M&I
Hemlo
Hemlo Mining Corp.
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
10.13% of payable gold until 135,750 ounces, then 6.75% until an additional 117,998 ounces, then 4.5%.
0.07 moz P&P + M&I
Los Filos
Equinox Gold Corp.
🇲🇽 Mexico
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
100% of payable silver for 25 years; Per ounce cash payment of $4.74.
12.8 moz P&P + M&I
Marmato
Aris Mining Corp.
🇨🇴 Colombia
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
0.33 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
100% of payable silver until 2.15 million ounces, then 50%; 10.5% of payable gold until 310,000 ounces, then 5.25%.
5.8 moz P&P + M&I
Neves-Corvo
Boliden
🇵🇹 Portugal
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
100% of payable silver for 50 years; Per ounce cash payment of $4.55.
23.6 moz P&P + M&I
San Dimas
First Majestic Silver Corp.
🇲🇽 Mexico
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
0.07 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
25% of payable gold plus an additional amount of gold equal to 25% of payable silver converted to gold at a fixed ratio of 70:1.
6.4 moz P&P + M&I
Stillwater
Sibanye-Stillwater Ltd.
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
0.53 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Palladium
100% of payable gold; 4.5% of payable palladium until 375,000 ounces, then 2.25% until 550,000 ounces, then 1.0%.
0.48 moz P&P + M&I
Sudbury
Vale SA
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Operating
Gold
70% of payable gold for 20 years; Per ounce cash payment of $400.
0.29 moz P&P + M&I
Voisey's Bay
Vale SA
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Operating
Cobalt
42.4% of payable cobalt until 31 million pounds, then 21.2%; Per pound cash payment of $9.02.
13.06 kt P&P + M&I
Zinkgruvan
Boliden
🇸🇪 Sweden
Status
Commodity
Conditions
Reserves & Resources
Operating
Silver
100% of payable silver; Per ounce cash payment of $4.81.
31.8 moz P&P + M&I
Cangrejos
CMOC Group Limited
🇪🇨 Ecuador
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
4.4% of payable gold until 469,000 ounces, then 2.9%.
0.51 moz P&P + M&I
Copper World Complex
Hudbay
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Development
Silver
100% of payable gold and silver.
67.4 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Gold
100% of payable gold and silver.
0.31 moz P&P + M&I
Cotabambas
Panoro
🇵🇪 Peru
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
-
Status
Commodity
Conditions
Reserves & Resources
Silver
25% of payable gold and 100% of payable silver until 90 million silver equivalent ounces, then 16.67% of gold and 66.67% of silver.
-
Curraghinalt
Dalradian Gold
🇬🇧 United Kingdom
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
3.05% of payable gold until 125,000 ounces, then 1.5%.
0.08 moz P&P + M&I
El Alto
Barrick
🇨🇱 Chile
Status
Commodity
Conditions
Reserves & Resources
Development
Silver
25% of payable silver.
-
El Domo
Silvercorp Metals Inc.
🇪🇨 Ecuador
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
0.26 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
75% of payable silver until 4.6 million ounces, then 50%; 50% of payable gold until 145,000 ounces, then 33%.
7.1 moz P&P + M&I
Fenix
Rio2 Limited
🇨🇱 Chile
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
22% of payable gold until 130,625 ounces, then 6% until 185,000 ounces, then 4% until 235,000 ounces, then 3.5%.
0.23 moz P&P + M&I
Koné
Montage Gold Corp.
🇨🇮 Cote dIvoire
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
19.5% of payable gold until 400,000 ounces, then 10.8% until 530,000 ounces, then 5.4%.
-
Kudz Ze Kayah
BMC Minerals
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
0.05 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
7.375% of payable gold and silver until 330,000 ounces of gold and 43.3 million ounces of silver, then 6.125% until 59,800 ounces of gold and 7.96 million ounces of silver, then 5.5% until 270,200 ounces of gold and 35.34 million ounces of silver, then 6.75%.
4.8 moz P&P + M&I
Kurmuk
Allied Gold Corp.
🇪🇹 Ethiopia
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
6.7% of payable gold until 220,000 ounces, then 4.8%.
0.18 moz P&P + M&I
Kutcho
Kutcho
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
100% of payable gold and silver.
0.21 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
100% of payable gold and silver.
15.6 moz P&P + M&I
Marathon
Generation Mining Ltd.
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
0.28 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Platinum
100% of payable gold until 150,000 ounces, then 67%; 22% of payable platinum until 120,000 ounces, then 15%.
0.18 moz P&P + M&I
Mineral Park
Waterton Copper LP
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Development
Silver
100% of payable silver.
28.9 moz P&P + M&I
Navidad
Pan American Silver Corp.
🇦🇷 Argentina
Status
Commodity
Conditions
Reserves & Resources
Development
Silver
12.5% of payable silver.
-
Platreef
Ivanhoe Mines Ltd.
🇿🇦 South Africa
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.67 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Palladium
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.35 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Platinum
62.5% of payable gold until 218,750 ounces, then 50% until 428,300 ounces, then 3.125%; 5.25% of payable palladium and platinum until 350,000 ounces, then 3.0% until 485,115 ounces, then 0.1%.
0.34 moz P&P + M&I
Santo Domingo
Capstone Copper Corp.
🇨🇱 Chile
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
100% of payable gold until 285,000 ounces, then 67%.
0.61 moz P&P + M&I
Spring Valley
Waterton Gold LP
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
8% of payable gold until 300,000 ounces, then 6%.
0.31 moz P&P + M&I
Stratoni
Eldorado Gold Corp.
🇬🇷 Greece
Status
Commodity
Conditions
Reserves & Resources
Development
Silver
100% of payable silver.
-
Toroparu
Aris Mining Corp.
🇬🇾 Guyana
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
10% of payable gold; 50% of payable silver.
-
Status
Commodity
Conditions
Reserves & Resources
Silver
10% of payable gold; 50% of payable silver.
-
Stream interests · 36 projects — Assumptions & Disclaimers
- Stream % is the contractual share of the underlying commodity the company is entitled to purchase. 'Ongoing payment' is the fixed or formulaic per-unit amount the company pays the operator at delivery.
- Attribution. Stream volumes are gross underlying volume × stream %.
- Upfront deposit / completion test. Streams typically include an upfront deposit and a delivery-completion test; neither figure is rendered on this table — see the source contract.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
Royalty interests · 5 projects
As at 31 December 2025 · exclusive
| Royalty | ||||||
|---|---|---|---|---|---|---|
| Location | Status | Commodity | Conditions | Reserves & Resources | ||
|
|
Black Pine
Liberty Gold
|
🇺🇸 United States
|
Development
|
Gold
|
0.5% NSR Royalty; Liberty Gold has an option to repurchase 50% of the NSR for $4 million.
|
0.02 moz P&P + M&I
|
|
|
Brewery Creek
Victoria Gold
|
🇨🇦 Canada
|
Development
|
Gold
|
2.0% NSR Royalty for the first 600,000 ounces of gold produced, increasing to 2.75% thereafter.
|
-
|
|
|
DeLamar
Integra
|
🇺🇸 United States
|
Development
|
Gold
|
1.5% NSR Royalty on Oxide and Mixed material.
|
0.02 moz P&P + M&I
|
|
|
|
|
|
Silver
|
1.5% NSR Royalty on Oxide and Mixed material.
|
0.8 moz P&P + M&I
|
|
|
Metates
Chesapeake
|
🇲🇽 Mexico
|
Development
|
Gold
|
0.5% NSR Royalty.
|
-
|
|
|
|
|
|
Silver
|
0.5% NSR Royalty.
|
-
|
|
|
Mt Todd
Vista
|
🇦🇺 Australia
|
Development
|
Gold
|
1.0% Gross Royalty until 3.47 million ounces of gold are delivered, then 0.667%.
|
0.05 moz P&P + M&I
|
Black Pine
Liberty Gold
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
0.5% NSR Royalty; Liberty Gold has an option to repurchase 50% of the NSR for $4 million.
0.02 moz P&P + M&I
Brewery Creek
Victoria Gold
🇨🇦 Canada
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
2.0% NSR Royalty for the first 600,000 ounces of gold produced, increasing to 2.75% thereafter.
-
DeLamar
Integra
🇺🇸 United States
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
1.5% NSR Royalty on Oxide and Mixed material.
0.02 moz P&P + M&I
Status
Commodity
Conditions
Reserves & Resources
Silver
1.5% NSR Royalty on Oxide and Mixed material.
0.8 moz P&P + M&I
Metates
Chesapeake
🇲🇽 Mexico
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
0.5% NSR Royalty.
-
Status
Commodity
Conditions
Reserves & Resources
Silver
0.5% NSR Royalty.
-
Mt Todd
Vista
🇦🇺 Australia
Status
Commodity
Conditions
Reserves & Resources
Development
Gold
1.0% Gross Royalty until 3.47 million ounces of gold are delivered, then 0.667%.
0.05 moz P&P + M&I
Royalty interests · 5 projects — Assumptions & Disclaimers
- Royalty type is taken from the source filing (NSR = Net Smelter Return, GRR = Gross Royalty, Net Profit Interest, Sliding-Scale, etc.).
- Attribution. Royalty volumes are computed as gross underlying volume × disclosed royalty rate. Where the disclosure is already on an 'attributable' basis we leave it untouched and tag the row as Net (×1.0).
- Conditions column shows the interest_conditions text from each project (verbatim commercial terms where disclosed).
- Reserves & production figures belong to the operator, not the royalty holder; they are restated on the royalty holder's economic basis using the disclosed rate.
- The operator's reserve / resource classification carries through.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
Reserves & resources — detail
As at 31 December 2025
| Project | |||
|---|---|---|---|
| Commodity | Prov. & Prob. (share %) | Total (share %) | |
|
Salobo
|
Gold
|
6.22 moz (63%)
|
6.22 moz (63%)
|
|
Antamina
|
Silver
|
49.14 moz (14%)
|
49.14 moz (14%)
|
|
Peñasquito
|
Silver
|
14.38 moz (4%)
|
14.38 moz (4%)
|
|
Aljustrel
|
Silver
|
36 moz (11%)
|
36 moz (11%)
|
|
Blackwater
|
Gold
|
0.05 moz (<1%)
|
0.05 moz (<1%)
|
|
Blackwater
|
Silver
|
2.53 moz (<1%)
|
2.53 moz (<1%)
|
|
Constancia
|
Gold
|
0.34 moz (3%)
|
0.34 moz (3%)
|
|
Constancia
|
Silver
|
42.1 moz (12%)
|
42.1 moz (12%)
|
|
Zinkgruvan
|
Silver
|
31.8 moz (9%)
|
31.8 moz (9%)
|
|
Cozamin
|
Silver
|
1.85 moz (<1%)
|
1.85 moz (<1%)
|
|
Goose
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
Hemlo
|
Gold
|
0.01 moz (<1%)
|
0.01 moz (<1%)
|
|
Los Filos
|
Silver
|
12.8 moz (4%)
|
12.8 moz (4%)
|
|
Marmato
|
Gold
|
0.33 moz (3%)
|
0.33 moz (3%)
|
|
Marmato
|
Silver
|
5.8 moz (2%)
|
5.8 moz (2%)
|
|
Neves-Corvo
|
Silver
|
23.6 moz (7%)
|
23.6 moz (7%)
|
|
San Dimas
|
Gold
|
0.02 moz (<1%)
|
0.02 moz (<1%)
|
|
San Dimas
|
Silver
|
1.6 moz (<1%)
|
1.6 moz (<1%)
|
|
Stillwater
|
Gold
|
0.53 moz (5%)
|
0.53 moz (5%)
|
|
Stillwater
|
Palladium
|
0.48 moz (69%)
|
0.48 moz (69%)
|
|
Sudbury
|
Gold
|
0.2 moz (2%)
|
0.2 moz (2%)
|
|
Voisey's Bay
|
Cobalt
|
5.54 kt
|
5.54 kt
|
|
Copper World Complex
|
Gold
|
0.31 moz (3%)
|
0.31 moz (3%)
|
|
Copper World Complex
|
Silver
|
67.4 moz (20%)
|
67.4 moz (20%)
|
|
Mineral Park
|
Silver
|
28.9 moz (9%)
|
28.9 moz (9%)
|
|
Black Pine
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
Cangrejos
|
Gold
|
0.02 moz (<1%)
|
0.02 moz (<1%)
|
|
Curraghinalt
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
DeLamar
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
DeLamar
|
Silver
|
0.01 moz (<1%)
|
0.01 moz (<1%)
|
|
El Domo
|
Gold
|
0.2 moz (2%)
|
0.2 moz (2%)
|
|
El Domo
|
Silver
|
5.32 moz (2%)
|
5.32 moz (2%)
|
|
Fenix
|
Gold
|
0.05 moz (<1%)
|
0.05 moz (<1%)
|
|
Kudz Ze Kayah
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
Kudz Ze Kayah
|
Silver
|
0.35 moz (<1%)
|
0.35 moz (<1%)
|
|
Kurmuk
|
Gold
|
0.01 moz (<1%)
|
0.01 moz (<1%)
|
|
Kutcho
|
Gold
|
0.21 moz (2%)
|
0.21 moz (2%)
|
|
Kutcho
|
Silver
|
15.6 moz (5%)
|
15.6 moz (5%)
|
|
Marathon
|
Gold
|
0.28 moz (3%)
|
0.28 moz (3%)
|
|
Marathon
|
Platinum
|
0.18 moz (46%)
|
0.18 moz (46%)
|
|
Mt Todd
|
Gold
|
0 moz (<1%)
|
0 moz (<1%)
|
|
Platreef
|
Gold
|
0.42 moz (4%)
|
0.42 moz (4%)
|
|
Platreef
|
Palladium
|
0.22 moz (31%)
|
0.22 moz (31%)
|
|
Platreef
|
Platinum
|
0.21 moz (54%)
|
0.21 moz (54%)
|
|
Santo Domingo
|
Gold
|
0.61 moz (6%)
|
0.61 moz (6%)
|
|
Spring Valley
|
Gold
|
0.02 moz (<1%)
|
0.02 moz (<1%)
|
|
|
Σ Gold
|
9.83 moz
|
9.83 moz
|
|
|
Σ Silver
|
339.18 moz
|
339.18 moz
|
|
|
Σ Palladium
|
0.7 moz
|
0.7 moz
|
|
|
Σ Platinum
|
0.39 moz
|
0.39 moz
|
|
|
Σ Cobalt
|
5.54 kt
|
5.54 kt
|
Salobo
Commodity
Gold
Prov. & Prob. (share %)
6.22 moz (63%)
Total (share %)
6.22 moz (63%)
Antamina
Commodity
Silver
Prov. & Prob. (share %)
49.14 moz (14%)
Total (share %)
49.14 moz (14%)
Peñasquito
Commodity
Silver
Prov. & Prob. (share %)
14.38 moz (4%)
Total (share %)
14.38 moz (4%)
Aljustrel
Commodity
Silver
Prov. & Prob. (share %)
36 moz (11%)
Total (share %)
36 moz (11%)
Blackwater
Commodity
Gold
Prov. & Prob. (share %)
0.05 moz (<1%)
Total (share %)
0.05 moz (<1%)
Blackwater
Commodity
Silver
Prov. & Prob. (share %)
2.53 moz (<1%)
Total (share %)
2.53 moz (<1%)
Constancia
Commodity
Gold
Prov. & Prob. (share %)
0.34 moz (3%)
Total (share %)
0.34 moz (3%)
Constancia
Commodity
Silver
Prov. & Prob. (share %)
42.1 moz (12%)
Total (share %)
42.1 moz (12%)
Zinkgruvan
Commodity
Silver
Prov. & Prob. (share %)
31.8 moz (9%)
Total (share %)
31.8 moz (9%)
Cozamin
Commodity
Silver
Prov. & Prob. (share %)
1.85 moz (<1%)
Total (share %)
1.85 moz (<1%)
Goose
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
Hemlo
Commodity
Gold
Prov. & Prob. (share %)
0.01 moz (<1%)
Total (share %)
0.01 moz (<1%)
Los Filos
Commodity
Silver
Prov. & Prob. (share %)
12.8 moz (4%)
Total (share %)
12.8 moz (4%)
Marmato
Commodity
Gold
Prov. & Prob. (share %)
0.33 moz (3%)
Total (share %)
0.33 moz (3%)
Marmato
Commodity
Silver
Prov. & Prob. (share %)
5.8 moz (2%)
Total (share %)
5.8 moz (2%)
Neves-Corvo
Commodity
Silver
Prov. & Prob. (share %)
23.6 moz (7%)
Total (share %)
23.6 moz (7%)
San Dimas
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz (<1%)
Total (share %)
0.02 moz (<1%)
San Dimas
Commodity
Silver
Prov. & Prob. (share %)
1.6 moz (<1%)
Total (share %)
1.6 moz (<1%)
Stillwater
Commodity
Gold
Prov. & Prob. (share %)
0.53 moz (5%)
Total (share %)
0.53 moz (5%)
Stillwater
Commodity
Palladium
Prov. & Prob. (share %)
0.48 moz (69%)
Total (share %)
0.48 moz (69%)
Sudbury
Commodity
Gold
Prov. & Prob. (share %)
0.2 moz (2%)
Total (share %)
0.2 moz (2%)
Voisey's Bay
Commodity
Cobalt
Prov. & Prob. (share %)
5.54 kt
Total (share %)
5.54 kt
Copper World Complex
Commodity
Gold
Prov. & Prob. (share %)
0.31 moz (3%)
Total (share %)
0.31 moz (3%)
Copper World Complex
Commodity
Silver
Prov. & Prob. (share %)
67.4 moz (20%)
Total (share %)
67.4 moz (20%)
Mineral Park
Commodity
Silver
Prov. & Prob. (share %)
28.9 moz (9%)
Total (share %)
28.9 moz (9%)
Black Pine
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
Cangrejos
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz (<1%)
Total (share %)
0.02 moz (<1%)
Curraghinalt
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
DeLamar
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
DeLamar
Commodity
Silver
Prov. & Prob. (share %)
0.01 moz (<1%)
Total (share %)
0.01 moz (<1%)
El Domo
Commodity
Gold
Prov. & Prob. (share %)
0.2 moz (2%)
Total (share %)
0.2 moz (2%)
El Domo
Commodity
Silver
Prov. & Prob. (share %)
5.32 moz (2%)
Total (share %)
5.32 moz (2%)
Fenix
Commodity
Gold
Prov. & Prob. (share %)
0.05 moz (<1%)
Total (share %)
0.05 moz (<1%)
Kudz Ze Kayah
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
Kudz Ze Kayah
Commodity
Silver
Prov. & Prob. (share %)
0.35 moz (<1%)
Total (share %)
0.35 moz (<1%)
Kurmuk
Commodity
Gold
Prov. & Prob. (share %)
0.01 moz (<1%)
Total (share %)
0.01 moz (<1%)
Kutcho
Commodity
Gold
Prov. & Prob. (share %)
0.21 moz (2%)
Total (share %)
0.21 moz (2%)
Kutcho
Commodity
Silver
Prov. & Prob. (share %)
15.6 moz (5%)
Total (share %)
15.6 moz (5%)
Marathon
Commodity
Gold
Prov. & Prob. (share %)
0.28 moz (3%)
Total (share %)
0.28 moz (3%)
Marathon
Commodity
Platinum
Prov. & Prob. (share %)
0.18 moz (46%)
Total (share %)
0.18 moz (46%)
Mt Todd
Commodity
Gold
Prov. & Prob. (share %)
0 moz (<1%)
Total (share %)
0 moz (<1%)
Platreef
Commodity
Gold
Prov. & Prob. (share %)
0.42 moz (4%)
Total (share %)
0.42 moz (4%)
Platreef
Commodity
Palladium
Prov. & Prob. (share %)
0.22 moz (31%)
Total (share %)
0.22 moz (31%)
Platreef
Commodity
Platinum
Prov. & Prob. (share %)
0.21 moz (54%)
Total (share %)
0.21 moz (54%)
Santo Domingo
Commodity
Gold
Prov. & Prob. (share %)
0.61 moz (6%)
Total (share %)
0.61 moz (6%)
Spring Valley
Commodity
Gold
Prov. & Prob. (share %)
0.02 moz (<1%)
Total (share %)
0.02 moz (<1%)
Commodity
Σ Gold
Prov. & Prob. (share %)
9.83 moz
Total (share %)
9.83 moz
Commodity
Σ Silver
Prov. & Prob. (share %)
339.18 moz
Total (share %)
339.18 moz
Commodity
Σ Palladium
Prov. & Prob. (share %)
0.7 moz
Total (share %)
0.7 moz
Commodity
Σ Platinum
Prov. & Prob. (share %)
0.39 moz
Total (share %)
0.39 moz
Commodity
Σ Cobalt
Prov. & Prob. (share %)
5.54 kt
Total (share %)
5.54 kt
Reserves & resources — detail — Assumptions & Disclaimers
- Attributable. Per-category cells follow METALPILOT §6 (latest per project × commodity × category). Headline reserve base appears in Asset quality / mix.
- Inferred is shown for context and excluded from headline totals. Petroleum rows may be deduped on development_status.
Generic assumptions
- Generic assumptions (this panel) covers modelling choices for the KPI strip and each table section. Generic disclaimers (the panel below) covers investment risk, section-specific notices and data limitations. For definitions, units, reporting standards, cost benchmarks and attribution methods, see the Terminology tab.
- Project counts exclude play-level rollups so the same asset is not double-counted with its parent play.
- When a Portfolio Aggregate row exists, company-level totals (attributable production / reserve base USD) use only that rollup; underlying assets appear only in the per-project sections below.
- Attributable production / reserve base apply the attribution method documented on the Terminology tab (working interest, royalty / stream rate, net of royalty, or gross WI).
- Hydrocarbon production shows source units with an MMboe equivalent for gas (6 Mcf ≈ 1 BOE); estimated production revenue and the mix bar value MMboe-normalised gas at the same $/Bcf × 6 implied $/MMboe.
- USD value lines use the most recent commodity price snapshot. They are not a market valuation of the company.
- 'Operating' reflects each asset's operating status. 'Strategic' reflects the strategic flag on the asset.
Generic disclaimers
- The information on this page is provided for informational and educational purposes only. It is not investment advice, not a recommendation to buy, sell or hold any security, commodity, derivative or other financial instrument, and not an offer or solicitation in any jurisdiction.
- Metal Pilot compiles, normalises and presents data drawn from publicly available sources. We make no representation or warranty, express or implied, as to the accuracy, completeness, timeliness, fitness for a particular purpose, or non-infringement of any data on this page. Figures may be incomplete, out of date, misclassified, mis-attributed or incorrect.
- Always verify every figure with the original public disclosure (the company's annual report, NI 43-101 / NI 51-101 / SEC / JORC / SAMREC / PERC / PRMS / COGEH technical report, MD&A, investor presentation, press release, regulator filing or equivalent primary source) before making any investment, trading, lending, commercial, legal or operational decision. The primary source always prevails over Metal Pilot's normalised view.
- To the maximum extent permitted by applicable law, Metal Pilot, its affiliates, contributors and licensors disclaim all liability for any loss, damage, claim, cost or expense of any kind (including direct, indirect, incidental, consequential, special, punitive or exemplary losses, loss of profits, loss of opportunity, trading losses, investment losses or reputational losses) arising out of or in connection with reliance on, or use of, any information on this page.
- Metal Pilot is not a registered investment adviser, broker-dealer, mineral / petroleum qualified person or competent person, technical evaluator, accountant or lawyer. The presentation of data on this page does not constitute a qualified person's report, a competent person's statement, an audit, a fairness opinion or a valuation.
- By using this page you acknowledge that all investment and commercial decisions are made at your own risk and that any reliance on the information shown here is your own responsibility.
- KPI tiles are convenience aggregations only. They are not guidance, not a forecast, not a valuation, and may exclude assets that the company itself reports as material. Always verify with the most recent 10-K / 20-F / 40-F / annual report and the underlying technical reports.
- Counts and country flags are derived from the company's own classification. Some assets may be reported under joint ventures, holding companies or special-purpose vehicles, which may change the apparent country or operator profile relative to a strict beneficial-ownership view.
- Royalty income depends entirely on the underlying operator's production decisions, commodity prices and contractual interpretation. Royalty agreements are often subject to caps, buy-back rights, area-of-interest disputes and re-classification; the headline rate may overstate or understate the actual cash that will be received.
- Stream economics depend on the underlying operator's production, on the spot vs delivered-price spread, and on the operator's ability to meet the completion test. A failed completion test, a stream restructure or a buy-back may materially change the value of the stream.
- Adding categories across uncertainty levels (e.g. adding Inferred to M+I, or adding 3P to 2P) is statistically incorrect because the underlying probability distributions are different. Do not infer a single 'total resource' by summing rows of different categories.
- Snapshot in time. Reserves, resources, production, costs, NPV and grade figures are dated to the effective date of the source document; operating results may have changed materially since publication.
- Estimates, not certainties. Reserves and resources are estimates prepared under defined codes; even classified reserves carry stated probability ranges, and resources carry significantly higher uncertainty.
- Heterogeneous standards. Mining categories (Proven, Probable, Measured, Indicated, Inferred) and petroleum categories (1P, 2P, 3P, 1C, 2C, 3C, 1U, 2U, 3U) are not directly comparable across codes or even across companies. Definitions live on the Terminology tab.
- Attribution mathematics. Volumes may be on a gross (100 %), company gross working-interest, or company net (after royalty / entitlement) basis. See the Terminology tab → Attribution methods.
- Currency and units. Costs and NPV are shown in the currency the company reports them in; no FX adjustment is applied to historical figures. Volumes are normalised to the commodity display unit when a conversion is defined.
- Aggregation choices. When a Portfolio Aggregate row exists, snapshot KPIs use only that rollup so the same barrel / tonne is not counted twice; play-level rollups never feed company-level totals.
- Coverage gaps. A blank cell (–) means the company did not disclose the figure under the reporting standard we tracked, or the figure was not machine-extractable. It does not mean the figure is zero.
- Possible data errors. Despite our QC pipeline, individual figures may be misread, mis-categorised, attached to the wrong commodity or the wrong effective date. Always verify against the original filing before relying on any number for a decision.
- MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
- A royalty is a contractual share of value extracted (NSR, GRR, NPI, sliding-scale, …). A stream delivers a fixed % of production at an agreed (often discounted) price in exchange for upfront capital.
- Portfolio shows operator reserves restated on royalty/stream economics (volume × rate). Operator classification (NI 43-101, JORC, NI 51-101, SEC) carries through.
- Common terms: Cap (maximum payable); Buy-back (operator repurchase right); AOI (area of interest); Sliding-scale (rate vs commodity price).
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Oil & Gas — one row per O&G project (typically a field, licence, play or basin asset), with columns for location, status, primary hydrocarbons, production (with rating), reserves & resources (with rating), costs and estimated lifetime.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- Reserves walk — gross (disclosed) — year-by-year reconciliation of the opening balance to the closing balance, broken into Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production and Conversion to developed.
- Reserves walk — net change by year — per-year summary of net additions and net deductions across the portfolio.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Gold
1 / 5
0–50 koz Au
0–1 Moz Au
0–1 g/t Au
2 / 5
50–125 koz Au
1–2.5 Moz Au
1–2 g/t Au
3 / 5
125–250 koz Au
2.5–5 Moz Au
2–5 g/t Au
4 / 5
250–500 koz Au
5–10 Moz Au
5–8 g/t Au
5 / 5
≥ 500 koz Au
≥ 10 Moz Au
≥ 8 g/t Au
Silver
1 / 5
0–1 Moz Ag
0–25 Moz Ag
0–50 g/t Ag
2 / 5
1–3 Moz Ag
25–75 Moz Ag
50–100 g/t Ag
3 / 5
3–7 Moz Ag
75–150 Moz Ag
100–200 g/t Ag
4 / 5
7–12 Moz Ag
150–225 Moz Ag
200–300 g/t Ag
5 / 5
≥ 12 Moz Ag
≥ 225 Moz Ag
≥ 300 g/t Ag
Cobalt
1 / 5
0–1 kt Co
0–20 kt Co
0–0.05 % Co
2 / 5
1–5 kt Co
20–50 kt Co
0.05–0.15 % Co
3 / 5
5–15 kt Co
50–150 kt Co
0.15–0.3 % Co
4 / 5
15–30 kt Co
150–300 kt Co
0.3–0.6 % Co
5 / 5
≥ 30 kt Co
≥ 300 kt Co
≥ 0.6 % Co
Palladium
1 / 5
0–0.2 Moz 4E PGM
0–5 Moz 4E PGM
0–1.5 g/t 4E PGM
2 / 5
0.2–0.7 Moz 4E PGM
5–20 Moz 4E PGM
1.5–3 g/t 4E PGM
3 / 5
0.7–1.5 Moz 4E PGM
20–50 Moz 4E PGM
3–5 g/t 4E PGM
4 / 5
1.5–3 Moz 4E PGM
50–100 Moz 4E PGM
5–8 g/t 4E PGM
5 / 5
≥ 3 Moz 4E PGM
≥ 100 Moz 4E PGM
≥ 8 g/t 4E PGM
Platinum
1 / 5
0–0.2 Moz 4E PGM
0–5 Moz 4E PGM
0–1.5 g/t 4E PGM
2 / 5
0.2–0.7 Moz 4E PGM
5–20 Moz 4E PGM
1.5–3 g/t 4E PGM
3 / 5
0.7–1.5 Moz 4E PGM
20–50 Moz 4E PGM
3–5 g/t 4E PGM
4 / 5
1.5–3 Moz 4E PGM
50–100 Moz 4E PGM
5–8 g/t 4E PGM
5 / 5
≥ 3 Moz 4E PGM
≥ 100 Moz 4E PGM
≥ 8 g/t 4E PGM
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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