Producing Royalties
Development Stage Royalties
Royalty Definitions
The Company’s royalty portfolio contains several different types of royalties which are defined as follows:
Contained Gold Returned ("CGR") Royalty — a royalty in which payments are made on contained ounces rather than recovered ounces.
Gross Proceeds Royalty ("GPR") — a royalty in which payments are made on contained ounces rather than recovered ounces.
Gross Smelter Return (“GSR”) Royalty — a defined percentage of the gross revenue from a resource extraction operation, with no deduction for any costs paid by or charged to the operator.
Net Profits Interest ("NPI") Royalty — a defined percentage of the gross revenue from a resource extraction operation, after recovery of certain contract-defined pre-production costs, and after deduction of certain contract-defined mining, milling, processing, transportation, administrative, marketing and other costs.
Net Smelter Return (“NSR”) Royalty — a defined percentage of the gross revenue from a resource extraction operation, less a proportionate share of incidental transportation, insurance, refining, and smelting costs.
Net Value Royalty (“NVR”) — a defined percentage of the gross revenue from a resource extraction operation less certain contract-defined costs.
Royalty — the right to receive a percentage or other denomination of mineral production from a mining operation.
Sliding-scale royalty — a royalty in which the royalty rate increases or decreases as metal prices increase or decrease.
