EMX recently refinanced a $44M Sprott loan (originally at 7% fixed rate) with a $35M Franco-Nevada term loan at SOFR+300-425 basis points; while the SOFR-based rate is currently higher, Franco-Nevada provided lower upfront fees (1% vs. substantial Sprott fees), resulting in lower total cost of capital and better strategic alignment.
factualpending
Speaker
Dave ColeEvidence Quote
“the sprot loan had substantial upfront fees so the ultimate accumulative cost of capital was substantially higher The Upfront free with the um uh Franco loan was only 1%”
Source
A Uranium Expert, a Royalty Company, and the Largest Rutile Deposit in the World— Resource TalksCreated: 8/13/2026, 4:52:01 AM
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