Thank you, Eric, and thank you everyone for being here today. I am presenting on behalf of Elemental Royalty, and I will run you through our presentation. As we do, I will be making some forward-looking statements. First, an overview on the company. Elemental 2026, we have at the midpoint of our updated guidance, about $95 million U.S. revenue, and that is about 19,500- 22,000 gold equivalent ounces. We have an outlook, and we have heard a lot this morning about growth over the coming years, but we are a company that has gone from 400 gold equivalent ounces in our first year to a midpoint of just over 20,000 GEOs today. If you look at it in 2030, getting to approximately 50,000 GEOs. It is a gold precious metals-focused portfolio, about two-thirds precious.
We are globally diversified, probably more so than any of our peers, Australia still representing our biggest jurisdiction. The last year has been transformational in a number of ways to our capital markets profile. We will come onto that later in terms of liquidity, in terms of our listing jurisdictions, and introducing a dividend this year. We have a long track record of making what we would call disciplined capital allocation decisions. That is not growth for the sake of it, but growth that is accretive, that adds value over time. We also put in place earlier this year, a dividend going forwards. In terms of the management team, we have been around the space from some of the team from the very early days of the industry. Stefan, our Chief Financial Officer, with Royal Gold here.
We also have a shareholder that has come up a few times today in Tether, that is our cornerstone shareholder, and with the transaction we announced last week, approximately a 27% pro forma shareholder now. We did announce a material transaction last week, and it was two parts of it, but fundamentally, it came down to one thing, which was simplifying the business, adding more scale, more producing assets, at the same time as divesting the generation business. Just to put it into some perspective, the generation business has delivered over the last decade over 100 early-stage royalties to the company at almost no cost. At the point we are today, it now represents 0.1% less than that of our NAV, but it is 30% of our G&A and 50% of our staff.
We felt this was the right time where we make a material acquisition, we continue to scale up the portfolio, and at the same time, we simplify the business model, we make it a cleaner, pure play royalty company, and we give those investors who want exposure to the prospect generating side the ability to do that in a smaller, more leveraged vehicle where we will be the major shareholder. In terms of a bit of a detail on the transactions, we acquired five royalties and streams last week. It is all precious metals portfolio. Three of the five assets are in production today. It gave us immediate revenue growth of over 5,000 GEOs per annum going into 2027, with the major development asset being i-80 Gold's Ruby Hill in Nevada, that once it is in production, will mean the portfolio is contributing approximately 13,000 GEOs per annum.
To put that into context, the midpoint of our guidance this year is about 21,000 GEOs. In terms of the transaction consideration, we are using cash plus credit facility for $200 million, and we are issuing approximately $90 million in equity, which will be about a 5.6% pro forma ownership for Orion, who was the vendor. On the generation side, we are selling our generation portfolio to a private company, Carlin East, led by some of the former management of Elemental. We are going to be the biggest shareholder in that company. We will realize value that otherwise has not been appreciated in the Elemental portfolio, at the same time as having a very material reduction in our G&A going forwards and freeing up working capital.
In terms of what we're doing, we are adding revenue on the one side and we are taking away G&A on the other. When you look at the overall portfolio here, I think the first thing to take away really is the 21 producing assets with the closing of the Orion deal, which means we are more diversified in terms of revenue than even mid-tiers and majors in the space, and that's a great benefit of the royalty model. As you get more revenue and as you diversify that revenue base, you tend to get a lower cost of capital, and that has been the case with us year on year as we have grown. We also have 260 royalties approximately in total, and there is a very deep base of optionality. I think when we started this company, we had two royalties.
Three years in, we had 12 royalties. A lot of these assets we're not going to have time to talk about today, but there is now not a week that goes by every year where we are not getting updates from some of the underlying operators where they have been investing money, where they have been adding to the resource, where they have been drilling or expanding even the mines as we just saw last week with one of our assets. So a deep embedded pool of optionality in this portfolio today. With the transaction, we were actually a slightly higher precious metals waiting in the portfolio at the beginning of the year, and with the copper price outperforming precious gold over the course of the year. That came down a bit.
With this acquisition, we're going back to, broadly speaking, two-thirds precious metals and approximately a third copper and other. Also importantly, it's almost doubling our exposure to the U.S. and Canada, going from 13% to 21% pro forma. That means that U.S. and Canada come up alongside Australia as some of our key jurisdictions where we have exposure, tier one jurisdictions going forwards. So a couple of the cornerstone assets in this portfolio as it stands. Look, all of these assets are high quality, long life, and in the case of the first three, already producing. In the case of the last one, at a producing asset and going to be coming into the mine plan when Genesis put it out next year. So the first one, Čukaru Peki with Zijin. So one of the largest mining companies in the world.
We had a site visit there earlier this year, and it is currently on last year's revenue, paying us about $7 million a year. That is just from the upper zone, and they are simultaneously developing the porphyry at the Lower Zone, and that is going to be the first block cave mine Zijin have ever done. That is going to be in production in conjunction with the continued mining at the Upper Zone. When we see this coming in over the coming years, and it will be in three phases, this is going to be one of the largest copper mines in Europe. When it gets to full production alongside Zijin's Bor Complex, they say it will be the largest copper mine in Europe. In terms of what that means for us, it has already got a mine life of 66 years.
Two years ago, they made a brand-new discovery 7 km to the southeast in our royalty area, the MG Zone, and that was classed by Zijin in its own right as a super major discovery. That is still going in terms of exploration for the future. This is an asset that will be paying us every year. It will be paying us orders of magnitude greater as the Lower Zone comes into production alongside the Upper Zone, and it will be adding value every year through the resource increases and exploration. Just to give you some perspective in terms of the scale here, I think the last time, two years ago, we were at Čukaru Peki. They had 40 drill rigs working on the license.
When we were here this year, there were approximately 20, which they called relatively quiet for them, but by the context of any other mines, that is an enormous undertaking. This is one of Zijin's cornerstone growth assets. So 66-year mine life, it will be paying us more year- on- year going forwards as the Lower Zone comes in. When the MG Zone comes into production in the future, it will be a third production center within that same royalty footprint for us. The other point I should add is that where the porphyry gets at depth to the west, where it gets higher grade, our royalty coverage goes up three times, and it converts from a 0.36 to 1% royalty on copper there.
Not only is it going to get in the future higher grade, but it is also going to triple the exposure for us. The second asset I will talk to a bit, and we have syndicated this in the past with Franco. We co-own it with Franco-Nevada and Royal Gold, but this is Lundin Mining's Caserones mine. I think what we have seen since Lundin Mining became the majority shareholder is continued improvements systematically quarter- on- quarter, year- on- year in the operating performance there. This is, we say here, approximately 15-year mine life. I think if you used a $4 copper price, that converts to about a 30-year mine life.
In the last 18 months, they have done the first exploration drilling at the mine since it came into production in 2014, and they continued that over the course of last year and this year, over 100,000 m of drilling. Again, another cornerstone asset where it's going material exploration drilling and where production has increased year- on- year, and that paid us in 2025, approximately $19 million in revenue. Karlawinda, this is an asset in Australia, an uncapped gold royalty. Again, very well-known management team there, Capricorn Metals. They have just completed, I believe, last week, their expansion at the mine. This is a great case study if you want to look at the optionality inherent in a royalty. We bought this asset in 2021. They have been paying us every year since. We are nearly repaid on the acquisition cost.
The reserves at Karlawinda are larger than when we bought the asset. They have just completed an expansion at the mill, fully paid for by the operator that will increase production per annum by about 30%. Simultaneously with that, we have obviously benefited from the gold price increasing. That is some of the compounding leverage and optionality that you get with a royalty, and particularly with a really high-quality management team in Karlawinda. The last asset here, Laverton, as I mentioned, not yet in production. This was acquired by Genesis. Again, very well-known management team in Australia, and it's going to come into a new mine plan they're putting out in H1 next year. But we have a 2%- 4% uncapped royalty on a bit under 4 million ounces in one of the very well-known gold belts in West Australia.
I think if you listen to Genesis' presentations, some of the royalty coverage we have there, they describe as some of the best exploration ground in West Australia. They are aggressively exploring at one of our deposits, Beasley Creek, updating it, where we have a 4% uncapped NSR, and which we expect them to be putting into the mine plan when they update it next year. This will be, I like to call it a fine wine. It is going to get better and better over time. Just for context, it was held for the last 14 years by a Chinese parastatal who spent an average of AUD 1.4 million just to keep the licenses alive.
Up until last year, it has been warehoused and seen no exploration, and this is a gold belt that's over 40 million ounces already endowed, and this is one of the prime coverages there. You could not buy this royalty today in a process. No mining company would sell it, and I think this is going to be for decades to come, a really cornerstone asset for the company. I'll quickly touch on a few of the assets here that we just acquired in the transaction we announced last week. The largest was the royalty, and it's a silver stream. 50% silver stream on the first 1.3 million ounces, and then it steps down to a 10% silver stream life of mine. But this is i-80 Gold's Ruby Hill Complex, and the primary deposit there with the silver content is Mineral Point.
We announced this transaction on Monday last week. On Tuesday, i-80 Gold announced some of the drilling results from their 130,000 m drill program that is currently underway there, looking to significantly expand both the width and the strike of this deposit. Really positive news for us, and they are continuing to drill and add to that. This is going to be in i-80 Gold's plan coming on in 2031, but they have also talked to the potential to bring that mine plan forwards as we go. I think we're going to get some look forward to some updates from the team there who we know very well from one of our previous royalties and our operations. The second asset, Karousa. This is a 5% gold stream. It's on a producing asset currently.
We know the company, they are private, Mansa Resources, because we have a royalty on their key development asset. I think we uniquely recognize the value here. I'll talk to Karousa a bit more later, but just for context, this is immediately to the north of Predictive Discovery Gold, now PDI's, Bankan and Kiniero deposits, and that is about 14 million ounces combined between them. What's really unique about this stream is that the stream is over the mill as well. It covers all future production that comes through, not just the licenses at the time the stream was put in place. We've already seen Mansa Resources expand their license position, land holding position, just to the north of PDI.
We expect to see that continue, and we will get the benefit here, not only of future discovery on the existing licenses, but future discovery on all the ground they pick up in the future and put through that mill. So a really well-structured stream on that asset that is paying us today. Snowy River, this is run by Jake Klein, formerly Evolution Mining in Australia. This is due to come into production from December this year, and will add another producing asset. La Negra in Mexico, again, very well-known rated management team there. When we announced this transaction on Monday post-market last week, La Negra, the operator, Silverco Mining, simultaneously announced an updated PEA that was double the numbers that we put into our model when we valued this asset.
So within 24 hours of this announcement, on the producing La Negra mine, they had come out with a mine plan updated that was double the production we had. At the largest asset in i-80 Gold, they came out with some exceptional drill results that were higher grade than the existing resource as they're looking to expand it. Then the last royalty in the portfolio we acquired is on Dakota Gold Corp.'s Homestake. This is partial coverage on the mine plan, phase I and II, so it's front-loaded, but also a huge amount of exploration optionality in this district that the royalty covers. We think it's a very meaningful addition to the portfolio. When we're talking about meaningful additions, the week before last, we announced a closing of a corporate transaction for Vizsla Royalties Corp., and this is the Panuco project in Mexico.
This is an uncapped 2%- 3.5% NSR. It is going to be one of the largest primary silver mines in production, extremely high-quality asset. I think the thing that really excites us about this royalty is not only is it going to be a really cornerstone asset for us in the future, but also the exploration upside. Panuco, they have still only mapped 70% of the current licenses to date, and they have only drilled 30% of the known veins. Already they have a world-class asset. They have one of the highest quality primary silver deposits, but we also look ahead and we see the mine plan being continually improved as they go forwards. That transaction closed two weeks ago today. What does all of this do for our growth profile?
I mentioned at the beginning when we started this company privately in 2017, we had about 400 gold equivalent ounces in terms of revenue. If you fast-forward to today, we just updated our guidance with the Orion transaction, so midpoint of about 21,000 GEOs for 2026. You can see the growth that we already had in the portfolio in the gold there, and then you can see the addition of the Orion portfolio that we just acquired coming on top. As I said, averaging about 5,000- 7,000 GEOs a year over the coming years, and then getting up to 13,000 GEOs with i-80 Gold's Ruby Hill in Nevada in production. We talked to a few of the assets, but I think what's really important about this growth profile is it is not dependent on one or two mines.
There are about six or eight different assets that are all contributing to this over the coming years, and a number of those are from existing mines where they are undergoing expansions or they are bringing additional deposits into production. So materially de-risked growth for the company from here. Over the last year, we have been very active on the business development front, and this slide, I think, highlights with the announcement of the Orion acquisition last year, that we have been in relative terms, we have deployed far and away the most capital relative to our size. If you look in absolute terms across the whole royalty industry, where we represent maybe 1% today of the market cap of the royalty industry as a whole, we have deployed the third most capital.
Of course, that only matters as much as the capital allocation decisions you make and what value you add. If you look at our track record, and it's one of the strongest slides we have, on the right you can see some of our very first transactions, and what we returned on those. If you look to some of the larger ones in the portfolio today, you can see in the top what we paid for them in the dark, the cash we have received to date from those assets, and then the lighter gold is the current NAV. Quarter- on- quarter now, we update this slide and every quarter that we go, it looks better than the previous quarter as we get more revenue, as operators continue to add to their life at no cost to us.
In terms of capital structure with the close of this transaction, I mentioned that we are paying $200 million in cash, so we will come out of this at the end with about $230 million drawn. We will have about $23 million in cash. We have equity and Tether Gold investments of about $35 million. At the same time as the acquisition, we upsized our credit facility such that combined with the accordion, we will have about $70 million still available to draw under the credit facility.
Our largest shareholder, Tether, they get diluted down pro forma with this to about 27%, and we introduce Orion to the portfolio as a new shareholder. One thing I will touch on when we talk to the capital markets profile of the company earlier, I think in the last year, we have probably increased our liquidity by about 70 times on a day-by-day basis.
We have been added to the Russell Index. We got added two weeks ago to the GDXJ. As the company has grown over the last year, we have been materially improving the capital markets profile, improving the liquidity. We have also been adding to the portfolio at a scale that we have never done before, and that has given us a growth trajectory that is stronger than at any point in the company's history. I think when we started this and we had a two-year outlook of growth, we look ahead today and we can say that it is the largest and strongest growth profile that the company has ever had. We are still in a position where we will rapidly delever.
About 50% of the debt that we are taking will pay down in the next 12 months, and we are still in a position to continue to deploy capital going forwards with a very supportive shareholder in Tether. The management team here, I won't dwell too much on this just in the interest of time. I have got the fortune of over time, we have got a stronger and stronger team, and a couple of those in the room with us today. Stefan, with a very long and storied background in the royalty space, going back to Chief Financial Officer of Royal Gold. Dave Baker, who was employee number two in Elemental, as we went public in the early days. Dave Gossen, we are a company of Daves as time go by, but adding to us on the legal front, and Megan.
Maybe just additional notice, over the last year, at the same time that we are selling off the generation business, we have also made some key hires across the finance function, across the legal function, and across the technical function. Two of those three people with a lot of experience in the royalty and streaming space specifically, with the intention that we are going to be a smaller, leaner company going forwards, but a company with a lot of experience and track record in the royalty and streaming space. With that, I will end. Eric, I do not know if there is time for questions, but happy if there are.
Yeah. Thank you very much. Unfortunately, I know our timer is having some issues and we are out of time, but really appreciate the update. It sounds like it's been exceptionally busy year for you and your team. I look forward to more transactions, I am sure, in the year ahead. Thank you very much.
Thanks, Eric.