Inferra AI / Company / TMCR
The Metals Royalty Company
TMCR · Materials
Last earnings Aug 10, 2026
Key results
Revenuequarter
0.25%
Once annual production in any calendar year exceeds 8.5 million Mtpa, gross revenue from such overage is subject to separate royalty of 0.25%, subject to a floor of $0.375 per million tonnes.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Conflicting figures recorded for this item — see “Conflicting figures” below.
Net income from discontinued operations of the Oil and Gas business consists of the following: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue Royalty income $ — $ 273,205 $ — $ 525,830 Cost of Sales Depletion — (53,783 ) — (112,840 ) Net income from discontinued operations $ — $ 219,422 $ — $ 412,990 16.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Mesabi (Development — DR Grade Iron Ore Pellets  —  Minnesota, USA) — 1% Index-Priced Royalty with a Revenue Floor On May 6, 2026, the Company entered into a royalty purchase agreement (the “Royalty Purchase Agreement”) with Ironclad Royalties LLC and Mesabi Investments (USA) LLC (collectively, “Mesabi”) to acquire an indexed gross production revenue royalty (with a revenue floor) on direct reduction-grade (“DR-Grade”) iron ore pellets produced from Mesabi’s iron ore project (the “Mesabi Property”) located in Nashwauk, Minnesota (the “Mesabi Royalty Transaction”).
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Revenuefull-year
$1.235 billion
We would cease to qualify as an emerging growth company upon the earliest of (a) the last day of the first fiscal year in which our annual gross revenue is $1.235 billion or more, (b) the date on which we have, during the previous rolling three-year period, issued more than $1.0 billion in non-convertible debt securities and (c) the last day of the fiscal year in which the market value of our Common Shares held by non-affiliates exceeded $700.0 million as of July 31 of such fiscal year.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Conflicting figures recorded for this item — see “Conflicting figures” below.
AI analysis
Q2 2026 · reported Aug 10, 2026
Based on: Earnings release (6-K exhibit) + parent 6-K — transcript not held
Guidance · company-stated
No guidance located in the held release
Capital allocation
TMC has an option (the “First Royalty Repurchase Option”) to purchase 50% of the NORI Royalty between February 21, 2025 and February 21, 2030 by making a payment (the “First Repurchase Payment”) to the Company in the amount that, when combined with the aggregate NORI Royalty payments received prior to the First Repurchase Payment is made, would provide an agreed rate of return.
If the First Royalty Repurchase Option is exercised and TMC is not in default of its payment obligations under the NORI Royalty, TMC has an option to purchase an additional 25% of the original NORI Royalty, exercisable between February 21, 2028 and February 21, 2033, by making a payment (the “Second Repurchase Payment”) to the Company in the amount that, when combined with the aggregate NORI Royalty payments received prior to the Second Repurchase Payment is made, would provide an agreed rate of return.
Event summary
The Metals Royalty Company Q2 2026 — Once annual production in any calendar year exceeds 8.5 million Mtpa, gross revenue from such overage is subject to separate royalty of 0.25%, subject to a floor of $0.375 per million tonnes.
Based on: Earnings release (6-K exhibit) + parent 6-K — transcript not held
Guidance & outlook
No guidance located in the held release
Capital allocation
TMC has an option (the “First Royalty Repurchase Option”) to purchase 50% of the NORI Royalty between February 21, 2025 and February 21, 2030 by making a payment (the “First Repurchase Payment”) to the Company in the amount that, when combined with the aggregate NORI Royalty payments received prior to the First Repurchase Payment is made, would provide an agreed rate of return.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
If the First Royalty Repurchase Option is exercised and TMC is not in default of its payment obligations under the NORI Royalty, TMC has an option to purchase an additional 25% of the original NORI Royalty, exercisable between February 21, 2028 and February 21, 2033, by making a payment (the “Second Repurchase Payment”) to the Company in the amount that, when combined with the aggregate NORI Royalty payments received prior to the Second Repurchase Payment is made, would provide an agreed rate of return.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The $125.0 million cash portion of the consideration for the Mesabi Royalty Transaction was funded by net proceeds from the issuance of shares in a private placement (note 7), the initial drawdown under the senior secured credit facility (note 6), and $5.0 million of the Transaction Deposit previously paid by the Company at signing of the Royalty Purchase Agreement being applied to the purchase price with the balance of $10.0 million remaining outstanding.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Long-term debt June 30, 2025 December 31, 2025 Balance, beginning of period $ — $ — Drawdown 44,559,585 — Deferred financing costs and original issue discount (2,265,872 ) — Balance, end of period 42,293,713 — Less: current portion: (556,995 ) — Long-term portion $ 41,736,718 $ — On June 1, 2026, in connection with the Mesabi Royalty Transaction, the Company entered into a loan agreement (the “Loan Agreement”) where the lender agreed to make available to the Company an aggregate principal amount of $51.8 million.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The Loan Agreement has a senior secured term loan facility in the principal amount of $44.6 million (the “Term Loan Facility”) and a senior secured delayed draw term loan facility in the principal amount of $7.2 million (the “DDTL Facility”).
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The advances under the Term Loan Facility and DDTL Facility (together, the “Loan Facilities”) are subject to an original issue discount of 3.50%, and bear interest at an initial rate of 9.00% per annum, subject to scheduled increases over the term of the Loan Facilities.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Strategy & priorities
The Company is focused on the acquisition and management of critical metals and mineral royalties, streams and other similar interests.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The Company is focused on providing capital to support mineral security and independence in North America in support of accelerating domestic industry growth, including energy, defense and reindustrialization.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The Company aims to focus on capital development opportunities encompassing all aspects of the critical metals and minerals value chain.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The Loan Facilities mature 36 months after the funding date, or June 1, 2029, and are secured by a first-priority security interest in substantially all of the Company’s assets, and a first-priority pledge of the equity interests of the Company’s subsidiaries.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
The Company is focused on providing capital to support mineral security and independence in North America in support of accelerating domestic industry growth, including energy, defense and re-industrialization.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Risks & headwinds
This discussion contains forward-looking statements that involve significant risks and uncertainties including those discussed in our Form 20-F for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
If we raise additional funds through debt financing, if available, this may result in fixed payment obligations and may involve agreements that include restrictive covenants that limit our ability to take specific actions, such as incurring additional debt, making capital expenditures, creating liens, redeeming shares or declaring dividends, that could adversely impact our ability to conduct our business.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
These assumptions are, by their very nature, subject to interpretation and uncertainty.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Significant assumptions used in estimating the fair value of the royalty interests in the Maria Conchita Block and SN-9 Block included discount rates that reflect current market conditions and uncertainties, as well as estimated future cash flows attributable to the royalty interest derived from proved reserves estimates.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Such litigation may be time-consuming and costly and, as with all litigation, no guarantee of success can be made.
SEC original ↗The Metals Royalty Company — Earnings release (6-K exhibit)EX-99Aug 10, 2026
Conflicting figures
Revenue
0.25%
“Once annual production in any calendar year exceeds 8.5 million Mtpa, gross revenue from such overage is subject to separate royalty of 0.25%, subject to a floor of $0.375 per million tonnes.”
$1.235 billion
“We would cease to qualify as an emerging growth company upon the earliest of (a) the last day of the first fiscal year in which our annual gross revenue is $1.235 billion or more, (b) the date on which we have, during the previous rolling three-year period, issued more than $1.0 billion in non-convertible debt securities and (c) the last day of the fiscal year in which the market value of our Common Shares held by non-affiliates exceeded $700.0 million as of July 31 of such fiscal year.”
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
19 documentsEarnings releases
2 documentsPresentations
0 documentsNo presentations for The Metals Royalty Company are held in this edition of the library.
Transcripts
0 documentsNo transcripts for The Metals Royalty Company are held in this edition of the library.
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