Elemental Royalty’s Tether Link Could Change How The Business Is Valued

Elemental Royalty is making a clear case that it should not be valued like a standard small royalty company. The argument rests on two points. First, the company became larger and more diversified after its merger with EMX Royalty in November 2025. Second, that deal brought in a US$100 million strategic investment from Tether, giving Elemental a backer and capital source that most royalty peers do not have.

Investors look at portfolio quality, diversification, jurisdiction, cash flow, net asset value and dividend potential. Bigger platforms with broader asset exposure and stronger balance sheets tend to win higher valuations. Smaller companies usually trade at a discount until they prove they can scale, generate reliable cash flow and reduce asset concentration.

Elemental now has more scale following the merger, but the more unusual feature is the link with Tether. That relationship gives Elemental a distinctive angle in a sector where most businesses look broadly similar from an equity market perspective. It also raises the possibility that investors may eventually assign value not just to the royalty portfolio itself, but to the company’s access to capital, visibility and financial flexibility.

The clearest example is the dividend structure announced in February 2026. Elemental introduced its first quarterly dividend, targeting an annual total of US$0.12 per share for fiscal 2026. Qualifying registered shareholders were also given the option to receive that dividend in Tether Gold tokens instead of cash.

Elemental Royalty Corporation (NASDAQ:ELE, TSX:ELE) is a globally diverse, gold-focused portfolio featuring world-class royalties contributing to peer-leading revenue and strong growth.