Good afternoon. Thank you all for joining me here today. As he mentioned, my name is Brett Heath. I'm the President and CEO of Metalla Royalty, and we also are, we trade on the New York Stock Exchange under the symbol MTA, also the TSX Venture Exchange under the symbol MTA, and I will be making some forward-looking statements, so please understand those risks. So Metalla is an emerging intermediate royalty company, and what I mean by that is, you know, we believe that the asset profile of this business represents an intermediate type of royalty business and the cash flow is going to be there in the very near future. And at Metalla, it's always been about quality. Now, you hear this word quite often in the mining business. Everybody's focused on quality.
But when you break it down, there's actually very few assets that meet these types of tests. As a small company, we needed to figure out a way to grow within these assets. At Metalla, we had a strategy that we targeted late-stage development assets that allowed us to lever into the most proven large operators, the most proven geological trends, and the best jurisdictions. Now, this really allowed us to position our shareholders to capture a very significant amount of value on the back of these major mining companies, on the back of these big mid-tier mining companies, as they put $10s of millions or sometimes even up to $100s of millions advancing these projects and allowing us to be able to capitalize on all that growth at their expense.
Now, you know, again, most of our counterparties are major mining companies. This is also very critical because mines are becoming very difficult to build, much more difficult than they were, whether it's the permitting process, the jurisdiction, and so forth. And so you wanna have a portfolio that's underpinned. As a royalty holder, we're not the operator, so it needs to be underpinned by the best-in-class operators that have the ability to finance these assets to build them. They've got the track record of building them and continuing to be successful, as we lever our success off their experience. We've built over the last seven years, one of the most significant growth profiles in the royalty sector.
Currently, last year, we did just under 4,000 gold equivalent ounces, and we expect that to increase upwards of about 15,000 gold equivalent ounces annually over the next 5 years. That's gonna start here in 2024 with three new assets coming online, and we expect that to go upwards of 30,000 gold equivalent ounces annually between 5 and 10 years. And finally, as I noted before, it's critical to be in the best jurisdictions. So over the last 7 years, in 2016, when we founded this business, we've completed 32 transactions. That's an industry-leading 32 transactions from a transactional perspective of all the public and private royalty companies.
We were able to do this because we had a strategy where we went out and were able to procure, transact bilaterally, and execute on these, on 30, actually, out of 32 transactions on our own. And that is a very significant feat in this business. This business is an incredibly competitive space. There's a lot bigger companies out there with a lot more access to capital that want exposure to these assets, but it was through our focused strategy and execution that was able to deliver that type of growth. And through that, we now have over 100 royalties, and we deployed approximately $309 million through that process. Sorry, going through here.
Over the last seven years, we're really proud of the track record we've been able to generate in regards to the accretion on the deals that we did do and the return on invested capital. And this just represents a handful of the transactions that we did within this business. Again, the dark bar on the top is what we invested, and the light gray is the cash that we've had returned, and the gold is the consensus value and the expectation of the value that we will continue to return over this time. You can see on the bottom, there's one very, very material transaction.
It was a merger of a copper royalty company last year, Nova Royalty, and you can see there $140 million-$268 million consensus NAV on that transaction, and that was modeled at mid $3 copper. So you can see that the potential leverage and upside that is inherently built into this portfolio is very significant. That being said, all of our growth over the next five years is gonna be driven by gold and silver. And generating that growth and generating those above-average industry returns delivers above-average NAV per share growth. And in the royalty business, the most relevant financial metric is NAV per share growth. This, this is the intrinsic value on a per share basis, which is always the most important as for investors. And …
being able to execute on all these transactions, being able to procure them on our own, you can see, you know, our NAV per share growth versus our peers was significantly, had a significant amount of outperformance. And in fact, since we've had analyst coverage, we've been able to generate a CAGR, a compound annual growth rate, in our NAV per share growth of approximately 16% and nearly doubled over the last five years. I think this thing's... Excuse me, the clicker is running out of batteries or something over here. Okay. Okay, looks like we're back on. So actively expanding pipeline, again, this just shows the consistent growth from zero to over 100 royalties. We've got 102 exactly as of today.
Currently, through all those acquisitions, our portfolio represents over 2 million gold equivalent ounces to our account. So what that means through all of our assets, through all of our royalties, our percentage of what that gold is in the ground and that's coming out of the ground represents over 2 million ounces to our account. Currently, our market cap is $300 million. So you can see the inherent value that's built in, and a lot of that obviously is discounted back and, but when you look over the long term, this is a company that will continue to grow, will continue to grow cash flows, and be able to sustain for decades and decades to come. And again, as we touched on earlier, the most important part for a royalty company is its operators. Again, we do not operate anything.
Once we buy these royalties, there's no further capital outlay. They're free carried interests on these assets into perpetuity, and it's critical that you have the best operators in the business that are driving that growth. And when you look at the partners that are the operators of these, these mining asset or these royalty assets that we currently own, you can see we cover basically the best of the best of the whole sector. These, these are multinational, multi-billion-dollar leading majors within the gold sector and also the diversified sector. And on the back of these major mining companies, our growth is expected again to go from around 4,000 gold equivalent ounces is what we just did, just under that in 2023, expected to increase to 15,000 over the next five years.
That starts this year, and expected to go, you know, upwards of 30,000 in the next 5-10 years. Again, that's annually, sustainable growth annually. I'll go through a couple of the assets that are driving that growth, and we'll start off with Tocantinzinho. This is a mine that is expected to produce its first bar of gold probably in the second quarter, maybe third quarter of this year. It's expected to reach a commercial production rate towards the end of this year. Currently, this asset has over 2 million ounces. It's expected to do just under 200,000 ounces a year. We have a 0.75% royalty that covers that entire package.
Another royalty that is turning on in 2024 for our company is Côté, and Gosselin more in particular, which we'll talk about in a second. But Côté was a mine that was being built over the last three years. It had a significant CapEx overrun, and when they were building this mine and the way they were advancing this mine, they stuck a drill hole into the ground and found this asset called Gosselin. Gosselin was just a kind of an exploration, far in the future type of asset. And when we saw this royalty... When we saw this property and the drill results that they were getting on it, it was one of the most phenomenal deposits that we've ever seen.
We quickly moved up that into our priority list and went out and there were three pieces of the royalty, put them all under contract. We were able to close on two out of the three, and currently, we've got a 1.35% royalty over all of Gosselin. Now, we bought this pre-resource, so there was no resource on this property when we bought it a few years ago. In just the last few years, it's gone from zero to 7.4 million ounces. Truly just a spectacular amount of gold found in a very short period of time. And just last year, off only 35,000 meters of drilling, this asset increased by 2.4 million ounces. We expect this asset to go well over 10 million ounces.
IAMGOLD, the operator, has come out and publicly stated they believe that it will be of similar size as, Côté, which is currently in total reserves and resources around 14 million ounces. And in our 1.35% covers all of Gosselin and about 6%-10% of the Côté reserves. We're expecting to get production from Côté, since our royalty is on the northern side of the pit, probably late 2025, early 2026. They sequence from the south to the north, as they're mining. And also, which I think is even more relevant, more important, is, the integration of Gosselin into the mine plan.
So again, Côté in production is a huge de-risking event for Gosselin, which I believe firmly that Gosselin is going to be our company's Cortez or Malartic, Detour, you know, these Tier one type of assets that have really elevated the valuations and the multiples of some of our, our, our much larger peers, and it's, I think it's critical to have these. This asset alone, I believe, makes up a very significant part of our whole market cap today. I'll go through a few more of these assets. Castle Mountain is a seven million ounce deposit in California. This one, again, is in production on a smaller scale. Equinox, the operator, a multi-billion dollar company, has this as their next asset that they are looking to expand into phase two.
Once it expands into phase two, it's going to be a top 10 gold mine in the US, you know, producing something likely around 220,000-240,000 ounces of gold a year. So these are big, long-term assets. They're in the process of kind of expanding the permitting boundaries on this asset since they already have a permit on it, and they are currently in production at a lower rate. And we look for this one to likely come online sometime in the second half of this decade. You know, 2027, kind of 2028 is our best estimate as of today. And once this goes in production, the average gold equivalent ounce production for our account will be around 5,000 ounces.
So this one royalty will be more than our entire production off our five producing royalties today. So you can see in the portfolio how this was designed, how we went out and bought some of these incredible development assets that are gonna really start to stairstep up our growth. It's gonna really start to stairstep up our cash flow, and it's gonna allow us to implement not only a great capital return strategy here in the near future, but also allow us to buy a lot more assets with no dilution using this cash flow. Taca Taca is one of the largest copper development assets on the planet. It also hosts upwards of 10 million ounces of gold.
Again, the acquisition on Nova Royalty, you know, we believe copper is going to be an absolute critical metal for this next century, but these Tier 1 deposits are really what made us want to do that acquisition, and these big copper porphyries also come with typically a lot of precious. So it fit really well together. It gave the company the ability, as these larger copper ones come in production towards the end of the decade, early into the next decade, will give us sustainability on our cash flows for 50 years. I mean, most of these reserves are already years. When we did that diligence, the average major copper mine goes for about 74 years.
So a very, very significant jump from the gold sector and we have that optionality built in at kind of the back end of the portfolio to date. Just touching on a few other assets here. Wharf is a mine that is operated by Coeur Mining. It's one of their most profitable mines. We've got a 1% royalty on that. This is a very Steady Eddie type of operation, we expect this one to be in production. Currently, the reserve life for the mine plans over approximately the next 8 years or so, and it's had a lot of success on expanding that over the time. Copper World is set to become the next major copper mine in the U.S. that's being advanced by a company called Hudbay.
Aranzazu is a new producing asset that we acquired. It's a gold, silver, copper mine down in Mexico. You know, again, similar to Wharf, very, very Steady Eddie type of operation. A very great track record of finding new resources and also converting those resources back into reserves, and we also expect this one to go for, you know, at least the next 10 years. Vizcachitas is one of the largest copper development assets. It's not currently owned by a major, and we think once their feasibility is complete in the next kind of 18 months or so, that'll likely go to a major. Wasamac is one of our bigger development assets. We got a 1.5% royalty on this mine.
Now, this mine is set to become, we believe, a material part of Canadian Malartic. So Canadian Malartic today is one of Canada... Well, it is Canada's largest mine. It's operated by Agnico Eagle, and, as they transition underground, they are going to have a lot of tons that they're going to need to fill that mill. That this mill is a monster mill, and they're looking all around. Wasamac is at the top of the list. They're working through these studies. It's over 2 million ounces of gold. It's about 50 km away, and we believe that, there's not only a significant amount of exploration upside here, but this asset will become a key contributor to fill the mill at Malartic.
And, you know, again, with Agnico Eagle, you know, one of, in my view, one of the best operators in the gold business, we're, we're really happy to. Oh, sorry about that. Really happy to have that asset. So from a jurisdictional perspective, it's so critical to be in a good jurisdiction, when, as we're going into this period. We see significant increases in geopolitical tension around the world. You know, we see that continuing here over the next probably 5-10 years, and, and being in the best jurisdictions is key. Not only being in the best jurisdictions, but being in the most proven geological trends within those jurisdictions, North, South America and Australia. Currently, 5 producing assets. We've got 3 in construction.
That's Tocantinzinho, which I touched on, Côté, which just poured its first gold bar just a couple weeks back. We also have another royalty on Amalgamated Kirkland that is going in production. That's also again, an Agnico Eagle royalty that's going in this year. We've got 24 development assets, and a number of in advanced exploration and exploration. So with all that said, there's never been a better opportunity to look at Metalla as an investment. As you can see here, our NAV per share growth, our business execution, has been very, very, very consistent, and the market changed quite a bit over the last couple years in regards to the multiples applied to some of the larger companies and some of the smaller companies.
As I noted before, I believe strongly that our asset profile is much more in a significant size as a mid-tier. And I think as that matures over the next year or two, you're really gonna see this valuation gap close and our valuation to become much more closely related to the larger companies and or the larger peers in our sector. And you can see with just a very small revision to the norm, it's a very, very significant return for our shareholders to date. And so with that, we're out of time, so thank you very much for joining me here today.