EMX - EMX Royalty: Digging Into The Q1 Results

• EMX Royalty released its Q1 results last week, reporting quarterly revenue & other income of C$1.3 million, a more than 70% increase from the year-ago period.
• While the company's current royalty revenue is quite minuscule relative to its market cap, the company has an exciting year ahead with two major assets coming online.
• Beginning in Q1 2022, Balya and Timok should increase EMX's quarterly revenue & other income to more than C$2 million, with further upside as Timok ramps up to full capacity.
• However, while this will improve EMX's current valuation and significant premium to peers on a revenue multiple basis, I still see better valuation elsewhere in the sector.

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