Sam Overwater

Sam Overwater from Scotiabank asked for more details on Triple Flag's transaction opportunities, particularly those in the $100-$300 million range, including target geographies, deal structures (debt, equity, stream, royalty), and the primary purposes driving these transactions (e.g., asset sales, construction funding). He also asked how corporate transactions are assessed relative to other opportunities and if Triple Flag holds an equity portfolio for sale.

Answer

Sheldon Vanderkooi, CEO, confirmed that the opportunity set remains squarely in the $100-$300 million range, with a mix of smaller and larger deals, including corporate transactions like Arthur. He noted the opportunities are concentrated in traditional mining jurisdictions in the Americas, encompassing both streams and royalties, driven by various financing needs. He clarified that Triple Flag does not currently have an equity portfolio for sale.

Sam Overwater asked for more details on Triple Flag's transaction opportunities, particularly those in the $100-$300 million range, including their geographic focus, deal structures (streams, royalties, debt, equity), and the underlying purposes driving these transactions. He also asked about the company's approach to corporate transactions and if Triple Flag currently holds an equity portfolio for sale.

Answer

Sheldon Vanderkooy, CEO, confirmed that the $100-$300 million range remains relevant, noting that year-to-date, Triple Flag has deployed $350 million across a mix of smaller royalties and larger corporate transactions like Arthur. He indicated that opportunities are concentrated in traditional mining jurisdictions in the Americas, encompassing various structures, and are driven by diverse financing needs. He clarified that Triple Flag does not view corporate transactions as distinct from other opportunities if they add value and confirmed that the company does not currently have an equity portfolio for sale.