SCHEDULE: Sprott Funds Disclose 5.2% Stake in EMX Royalty

Sprott Inc. and its subsidiary, Sprott Asset Management USA Inc., have disclosed a 5.2% beneficial ownership stake in EMX Royalty Corporation, holding 5,630,863 common shares.

Summary

• Sprott Inc. and Sprott Asset Management USA Inc. jointly reported beneficial ownership of 5,630,863 common shares of EMX Royalty Corporation.
• This ownership represents 5.2% of EMX Royalty Corporation's common shares outstanding.
• The reporting persons hold shared voting power and shared dispositive power over all 5,630,863 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of EMX Royalty Corporation.
• The securities are directly owned by advisory clients of Sprott Asset Management USA Inc., with no single client beneficially owning more than 5%.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership by a significant institutional investor, indicating a vote of confidence in EMX Royalty Corporation without suggesting any immediate operational or financial changes.

Positives

• Sprott Inc. and its subsidiary, Sprott Asset Management USA Inc., have taken a significant position in EMX Royalty Corporation, indicating institutional interest.
• The acquisition was for investment purposes in the ordinary course of business, not for control, suggesting a long-term investment perspective.

Negatives

• No specific negative aspects for EMX Royalty Corporation are disclosed in this filing.

Risks

• The filing explicitly states that the securities were not acquired for the purpose of changing or influencing the control of the issuer, mitigating concerns about potential hostile takeover attempts.

Future Outlook

No specific future outlook or guidance for EMX Royalty Corporation is provided in this filing, as it is a disclosure of beneficial ownership.

Management Comments

• The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

This filing indicates a significant investment by Sprott, a prominent asset manager known for its focus on precious metals and natural resource investments, into EMX Royalty Corporation, a company operating in the mining royalty and streaming sector. This suggests continued institutional interest in the royalty model within the resource industry.

Comparison to Industry Standards

• No specific comparisons to industry standards, comparable companies, projects, or results are provided in this beneficial ownership filing.

Stakeholder Impact

• Shareholders may view the significant stake taken by Sprott Inc. and its subsidiary as a positive signal, potentially increasing investor confidence in EMX Royalty Corporation.

Next Steps

• No specific future actions, events, or milestones for EMX Royalty Corporation are mentioned in this beneficial ownership filing.

Key Dates

Recommendation

This Schedule 13G filing indicates a significant, passive investment by Sprott Inc. and its subsidiary in EMX Royalty Corporation. While it signals institutional confidence, the filing itself does not contain new operational or financial data to warrant a change in investment thesis. It primarily confirms an existing substantial holding, suggesting a 'hold' recommendation for investors already considering the stock, as it reinforces the presence of a major institutional investor.

Keywords

EMX Royalty Corporation, Sprott Inc., Sprott Asset Management USA Inc., Schedule 13G, beneficial ownership, common shares, mining royalty, investment management