Summit Royalties
Primary Ticker: Private
Stage of Development: Production
Primary Minerals: Gold, Silver
Country / Region: Burkina Faso
Market Cap N/A
Website: Summit Royalties
Summit is a precious metals streaming and royalty company with an aggressive growth trajectory. Summit's current portfolio is backstopped by cash flow production with additional expansion and exploration upside. Summit intends to rapidly expand to be the next mid-tier streaming and royalty company through a series of actionable and accretive acquisitions which, given Summit's size, can have an outsized effect on its production and cash flow growth. Summit currently has no debt and sufficient cash on-hand for use in future acquisitions. The Company is in the process of completing a go-public transaction and will be publicly traded by early November 2025.
Management Profile
Connor Pugliese, Vice President Corporate Development
Connor is a finance professional with over a decade of experience in the mining sector. Before joining Summit, he worked at Redwood Materials in Reno, Nevada, supporting the company’s growth in the sustainable battery materials and energy space. Prior to Redwood, he spent over 4 years at Triple Flag Precious Metals, where he helped execute over $1B in royalty and streaming deals. Connor began his career in investment banking, advising on M&A and capital markets transactions across the metals and mining sector.
What is your rationale for taking part in 121 Mining Investment?
Upon completion of our go-public transaction which will result in Summit being publicly traded in early November, we are attending various conferences and events with prospective investors to raise awareness of our story. As the newest entrant into the royalty and streaming space, there is ample opportunity for our share price to outperform given market dynamics and the appreciation in our peer's share prices since we priced our go-public transaction.
What recent news would you like to highlight to investors attending?
- 2025.06.18 - Summit Royalty Acquires Cash Flowing Portfolio of Royalties and Streams from IAMGOLD
- 2025.06.27 - Summit Royalty Announces Reverse Takeover By Eagle Royalties
- 2025.07.22 - Summit Royalty to Acquire Cash Flowing 1.0% NSR Royalty on the Madsen Project
What are your key goals for the next 3, 6 and 12 months?
3 Months
Complete go-public transaction, re-rate to 1.0x P/NAV (which is still less than our peer average)
6 Months
Complete at least one transformative transaction that brings in additional cash flow
12 Months
Get our free cash flow to US$10M by the end of 2026; get our market capitalization to over US$150M
What do you think makes your company such a compelling investment?
Summit provides exposure to the fastest-growing royalty and streaming company with the greatest additional upside potential prior to the company re-rating to peer valuation multiples. Since Summit acquired its foundational royalty portfolio from IAMGOLD Corporation in May 2025 at a valuation of US$0.65/share, the price of gold has increased by 48%, the share price of Summit’s peers have increased on average by 132%, and the GDXJ has risen by 114%, all while Summit’s share price has remained fixed as a private company. Notably, Summit’s valuation has improved due to additional accretive acquisitions. As such, we believe that the window of opportunity to participate in a significant catch-up trade is narrow but available to prospective investors.
What are the top 3 key investor takeaways?
- Attractive valuation and re-rate potential compared to peers
- Track record of demonstrated execution and growth
- Led by a team who have executed billions in transactions and built industry-leading companies
