Metalla Royalty & Streaming Ltd. · TSXV:MTA
Metalla Royalty & Streaming — Investor Presentation (June 2024)
27 slides from Metalla Royalty & Streaming's investor presentation, June 2024
Slide 1: Metalla Royalty & Streaming Corporate Presentation June 2024
MM E TE AT LA LL AL AR O ROYA Y LA TL YT Y& &S TS RT E RAEM AMI NI G N G | | J uJ n u en e2 02 20 42 4 | 1 NYSE & TSXV: MTA METALLAROYALTY.COM
Slide 2: Forward Looking Statements
METALLA ROYALTY & STREAMING | June 2024 | 2 Forward Looking Statements This presentation contains certain "forward looking statements" and certain "forward-looking information" as defined under subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Meta
Slide 3: About
METALLA ROYALTY & STREAMING | June 2024 | 3 About Metalla is an emerging mid-tier royalty and streaming company that holds 102 assets offering investors leveraged exposure to gold, silver, and copper. Our focus is to increase shareholder value through prudent allocation of capital and building an as
Slide 4: The Key Points
METALLA ROYALTY & STREAMING | June 2024 | 4 The Key Points ROYALTY COMPANY DELIVERING INDUSTRY LEADING GROWTH An Emerging Intermediate Consistent Acquisitions Exposure Royalty And Streaming Company At Accretive Valuations Drives To Key Inflationary Metals Gold, With 100 Royalties And Streams Outperf
Slide 5: The Track Record
METALLA ROYALTY & STREAMING | June 2024 | 5 The Track $18 32 $16 Record GDXJ Centro Gold Tocantinzinho Côté / Gosselin Mine Transactions $14 Fosterville Acquires royalty 102 $12 portfolio from Royalties / Streams Acquired $10 Wharf Mine Lama $309M Fifteen Mile $8 Stream Capital Deployed (USD) Portfo
Slide 6: The Track Record
METALLA ROYALTY & STREAMING | June 2024 | 6 The Track Record COMBINATION OF CASH FLOW AND ACCRETION AT THE ASSET-LEVEL DRIVES STRONG NAVPS GROWTH Higginsville Alamos Portfolio Investment $6.5 $8.6 Cash Flow Consensus NAV $8.5 $8.5 $2.5 $39.1 $41.6 Wharf Côté & Gosselin Castle Mountain $5.8 $6.1 $15.
Slide 7: The Steady Accretive Growth
METALLA ROYALTY & STREAMING | June 2024 | 7 The Steady Accretive Growth METALLA HAS OUTPACED ALL OF ITS PEERS ON NET ASSET VALUE PER SHARE (NAVPS) GROWTH 120% MTA FNV SSL RGLD OR WPM 100% In 4.5 years, Metalla has nearly doubled its NAVPS. 80% 60% 40% 20% 0% Feb-20 Feb-21 Feb-22 Feb-23 Feb-24 May-20
Slide 8: Actively Expanding Pipeline
METALLA ROYALTY & STREAMING | June 2024 | 8 Actively Expanding Pipeline 102 85 70 62 46 23 17 5 2016 2017 2018 2019 2020 2021 2022 2023 Metalla has consistently grown its portfolio since inception to over 100 royalties and streams.
Slide 9: Industry Leading Growth
METALLA ROYALTY & STREAMING | June 2024 | 9 Industry Leading Growth OUR PARTNERS Metalla Aiming To Grow Its GEO Production To Over 30,000 Oz Annually ~30,000 ~15,000 ~4,000 Producing Near Term (1-5 yrs) Long Term Potential (5-10 yrs)
Slide 10: Key Assets
METALLA ROYALTY & STREAMING | June 2024 | 10 Key Assets CÔTÉ & GOSSELIN TOCANTINZINHO Ontario, Canada Para State, Brazil Metal Exposure: Gold Metal Exposure: Gold 1.35% NSR - Construction 0.75% GVR - Construction Côté estimated average annual GEO production ~ 400 Estimated average annual GEO product
Slide 11: Key Assets
METALLA ROYALTY & STREAMING | June 2024 | 11 Key Assets CASTLE MOUNTAIN MINE TACA TACA San Bernardino, California Salta, Argentina Metal Exposure: Gold Metal Exposure: Copper, Gold, Molybdenum 5.0% NSR – Development (Phase 2) 0.42% NSR – Development – 32 years Estimated average annual GEO production
Slide 12: Key Assets
METALLA ROYALTY & STREAMING | June 2024 | 12 Key Assets COPPER WORLD WHARF Arizona, USA Lead, South Dakota Metal Exposure: Copper, Gold, Silver, Molybdenum Metal Exposure: Gold 0.315% NSR - Development 1% GVR - Producing Estimated average annual GEO production ~ 1,500 Estimated average annual GEO pr
Slide 13: Key Assets
METALLA ROYALTY & STREAMING | June 2024 | 13 Key Assets ARANZAZU VIZCACHITAS Zacatecas, Mexico Central Chile Metal Exposure: Copper, Gold, Silver Metal Exposure: Copper, Silver, Molybdenum 1% NSR - Producing 0.98% NSR - Development Estimated average annual GEO production ~ 1,100 Estimated average an
Slide 14: Key Assets
METALLA ROYALTY & STREAMING | June 2024 | 14 Key Assets ENDEAVOR WASAMAC MINE Cobar, Australia Rouyn-Noranda, Quebec Metal Exposure: Zinc, Silver, Lead Metal Exposure: Gold 4% NSR - Development 1.5% NSR - Development Estimated average annual GEO production ~ 1,800 Estimated average annual GEO produc
Slide 15: Portfolio is highly concentrated in the Americas
MMM EETETATALALLLLALAARRO ROO YYA YALALTLTYTYY&&&SSTSTRTRE REA EAM AMM I INING NGG | | | J JuJun unenee220202024244 | 15 5 Production Assets Portfolio is highly concentrated in the Americas 3 Assets in Construction Our strong foundation of current and future cash 28 generating asset base, combined w
Slide 16: The Value Proposition
0.8X 1.3X 2.3X 0.3X 1.8X 2.8X Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 2 0 Source: SNL, street research Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20 Jan 21 Feb 2 1 Mar 21 Apr 21 May 21 Jun 21 Jul 21 Aug 21 Sep 21 Oct 21 Nov 21 Dec 21 P/NAV(LHS) Jan 22 Feb 2 2 Mar 22 Apr
Slide 17: The Value Proposition
METALLA ROYALTY & STREAMING | June 2024 | 17 The Value Proposition 1.60x 1.55x CONSENSUS P/NAV FAVORABLE TO PEERS CONSIDERABLE UPSIDE AT PEER AVERAGE AND RECENT M&A TRANSACTIONS & HISTORIC MULTIPLES 1.40x 1.40x 1.27x $10 1.22x 1.20x 1.15x 1.14x $9 1.08x Current Share Price 1.00x $8 1.00x $7.23 - 126
Slide 18: Large Scale High Quality Assets Run by Industry-Leading Operators
METALLA ROYALTY & STREAMING | June 2024 | 18 Large Scale High Quality Assets Run by Industry-Leading Operators TOP 10 ASSETS AVERAGE MINE LIFE (YEARS) 20 17 16 16 13 11 Metalla Sandstorm Triple Flag Osisko Gold Royalties Gold Royalty Elemental # OF TOP 10 ASSETS WITH $1B+ OPERATOR 8 8 5 4 3 2 Metall
Slide 19: The Case for Investment
MM E TE AT LA LL AL AR O ROYA Y LA TL YT Y& &S TS RT E RAEM AMI NI G N G | | J uJ n u en e2 02 20 42 4 | 19 The Case for Emerging Mid-Tier Royalty and Disciplined Management Investment Streaming Company Experienced management team with a track record of over 12 years of value accretive Metalla’s por
Slide 20: Contact Us
METALLA ROYALTY & STREAMING | June 2024 | 20 CONTACT US 6 0 4 . 6 9 6 . 0 7 4 1 INFO@METALLAROYALTY.COM Suite 501 – 543 Granville Street Vancouver, BC Canada V6C 1X8
Slide 21: The Capital Structure
METALLA ROYALTY & STREAMING | June 2024 | 21 The Capital Structure ANALYST COVERAGE 91.49 0.8 3.5 95.8 $295M $10.0M $13.3M $22.9M $5.9 Average Analyst Target Basic Shares Fully Market Cap @ $3.08/share, Cash Convertible Facility RSU’s Options Outstanding Diluted June 4 2024 (Approximate) Debt Availa
Slide 22: Capital Markets Positioning
METALLA ROYALTY & STREAMING | June 2024 | 22 Capital Markets Positioning MARKET CAPITALIZATION VS. P/NAV TURN OF FLOAT (DAYS) 1.25x Osisko Gold Royalties Sandstorm 98 Triple Flag Elemental Osisko Gold 122 1.00x Royalties P/NAV - Street (ratio) Metalla 223 Sandstorm 0.75x Gold Royalty 264 Gold Royalt
Slide 23: Our Leadership Team
METALLA ROYALTY & STREAMING | June 2024 | 23 Our Leadership Team BOARD OF DIRECTORS MANAGEMENT Lawrence Roulston | Non – Executive Chairman Brett Heath | President and CEO, Director Mining professional and geologist with over 35 years of diverse hands-on experience. Founder of Metalla – Mr. Heath is
Slide 24: Our Assets
METALLA ROYALTY & STREAMING | June 2024 | 24 Our Assets PRODUCTION PROPERTY OPERATOR LOCATION METAL TERMS PROPERTY OPERATOR LOCATION METAL TERMS Aranzazu Aura Minerals Zacatecas, Mexico Cu, Au, Ag 1% NSR Bancroft Transition Metals Ontario, Canada Au 1.0% NSR El Realito Agnico Eagle Sonora, Mexico Ag
Slide 25: The Landscape
METALLA ROYALTY & STREAMING | June 2024 | 25 The Landscape Pre-2010 $66 $64 $64 $61 • The royalty space has expanded rapidly, especially during the 2018-2021 period • Sector market cap has expanded by roughly 2.2x from 2010 to 2022, with the number of publicly listed companies expanding to 24 $48 •
Slide 26: Peer asset and operator comparison
METALLA ROYALTY & STREAMING | June 2024 | 26 OSISKO GOLD METALLA TRIPLE FLAG ROYALTIES SANDSTORM GOLD ROYALTY ELEMENTAL Asset Operator Asset Operator Asset Operator Asset Operator Asset Operator Asset Operator Taca Taca Canadian Canadian Northparkes Hod Maden Caserones Malartic Malartic Vizcachitas
Slide 27: Notes
METALLA ROYALTY & STREAMING | June 2024 | 27 Notes (1) For details, please refer to IAMGOLD’s 2023 Annual Information Form and IAMGOLD’s Press Release dated All GEOs calculated using $1,500/oz gold price, $3.50 copper price. October 23, 2023 available at sedarplus.ca. Annual GEOs calculated by apply
Metalla Royalty & Streaming — Investor Presentation (June 2024) on 6ix