STREAM AND ROYALTY INTERESTS, NET (Tables)

3 Months Ended

Mar. 31, 2025

STREAM AND ROYALTY INTERESTS, NET

Schedule of stream and royalty interests

The following tables summarize our stream and royalty interests, net as of March 31, 2025 and December 31, 2024.

As of March 31, 2025 (Amounts in thousands):	Cost		Accumulated Depletion		Net
Production stage stream interests:
Mount Milligan	$	790,635	$	(468,140)	$	322,495
Pueblo Viejo	610,404		(311,009)		299,395
Andacollo	388,182		(179,451)		208,731
Khoemacau	265,911		(61,848)		204,063
Rainy River	175,727		(88,577)		87,150
Other	241,830		(157,677)		84,153
Total production stage stream interests	2,472,689		(1,266,702)		1,205,987
Production stage royalty interests:
Cortez (Legacy Zone and CC Zone)	353,850		(85,901)		267,949
Voisey's Bay	205,724		(126,201)		79,523
Red Chris	116,187		(9,033)		107,154
Peñasquito	99,172		(66,980)		32,192
Other	515,174		(420,803)		94,371
Total production stage royalty interests	1,290,107		(708,918)		581,189
Total production stage stream and royalty interests	3,762,796		(1,975,620)		1,787,176
Development stage stream interests:
Ilovica	12,038		—		12,038
Development stage royalty interests:
Cactus	55,122		—		55,122
Back River	42,948		—		42,948
La Fortuna	35,140		—		35,140
Other	25,576		—		25,576
Total development stage stream and royalty interests	170,824		—		170,824
Exploration stage stream interests:
Xavantina	64,794		—		64,794
Exploration stage royalty interests:
Cortez (Legacy Zone and CC Zone)	456,479		—		456,479
Great Bear	209,106		—		209,106
Pascua-Lama	177,690		—		177,690
Red Chris	48,895		—		48,895
Côté	29,610		—		29,610
Other	115,311		—		115,311
Total exploration stage stream and royalty interests	$	1,101,885	$	—	$	1,101,885
Total stream and royalty interests, net	$	5,035,505	$	(1,975,620)	$	3,059,885

As of December 31, 2024 (Amounts in thousands):	Cost		Accumulated Depletion		Net
Production stage stream interests:
Mount Milligan	$	790,635	$	(462,412)	$	328,223
Pueblo Viejo	610,404		(308,283)		302,121
Andacollo	388,182		(177,059)		211,123
Khoemacau	265,911		(58,043)		207,868
Rainy River	175,727		(86,307)		89,420
Other	241,830		(154,245)		87,585
Total production stage stream interests	2,472,689		(1,246,349)		1,226,340
Production stage royalty interests:
Cortez (Legacy Zone and CC Zone)	353,850		(81,845)		272,005
Voisey's Bay	205,724		(124,526)		81,198
Red Chris	116,187		(5,966)		110,221
Peñasquito	99,172		(65,372)		33,800
Other	519,491		(418,648)		100,843
Total production stage royalty interests	1,294,424		(696,357)		598,067
Total production stage stream and royalty interests	3,767,113		(1,942,706)		1,824,407
Development stage stream interests:
Ilovica	12,038		—		12,038
Development stage royalty interests:
Cactus	55,128		—		55,128
Back River	42,948		—		42,948
La Fortuna	35,140		—		35,140
Other	21,133		—		21,133
Total development stage stream and royalty interests	166,387		—		166,387
Exploration stage stream interests:
Xavantina	14,792		—		14,792
Exploration stage royalty interests:
Cortez (Legacy Zone and CC Zone)	456,479		—		456,479
Great Bear	209,106		—		209,106
Pascua-Lama	177,690		—		177,690
Red Chris	48,895		—		48,895
Côté	29,610		—		29,610
Other	115,438		—		115,438
Total exploration stage stream and royalty interests	$	1,052,010	$	—	$	1,052,010
Total stream and royalty interests, net	$	4,985,510	$	(1,942,706)	$	3,042,804