The KE Report Versamet Royalties - A New Royalty Company Bridging the Gap Between Junior Royalty Players and Multi‑Billion‑Dollar Majors
Jul 16, 2025
19:53
In this interview, I chat with Dan O’Flaherty, CEO of Versamet Royalties, a newly listed royalty company already making waves in the royalty and streaming space. Dan previously led Mavericks Metals, which sold to Triple Flag in 2023, and now he’s building Versamet to fill a gap between junior royalty players and the multi‑billion‑dollar majors.
Key Highlights from Our Discussion:
- Rapid portfolio growth: Nearly US$300M in acquisitions since 2022, growing Versamet’s market cap to ~$500M.
- Cash‑flow focus: From 5,000 GEOs in 2024 to 14–16,000 GEOs by 2026, translating to over $50M in annual revenue at current gold prices.
- Strategic partners: B2Gold (33%), Sandstorm (25%), and Equinox Gold (13%) as cornerstone shareholders, providing technical strength and deal flow.
- Balanced growth plan: Blend of near‑term organic growth and ongoing acquisitions.
- Capital markets strategy: TSX Venture listing in May 2025, with plans to graduate to the TSX and pursue a U.S. listing for broader investor access.
Dan also explains:
- Why Versamet stayed private until cash flow was established
- How their credit facility and equity strategy are funding growth
- Why this “mid‑tier gap” in the royalty space creates a unique investment opportunity
Please email me with any follow up questions for Dan. My email address is Fleck@kereport.com