Ecora Resources PLC

Supporting a

sustainable future

Ecora Resources PLC



We are a leading royalty company focused

on supporting the supply of commodities

essential to creating a sustainable future.

Strategic report

 

 

 

 

8 Chairman’s statement

 

 

 

18 Our markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Governance report

 

 

 

 

 

 

 

 

Financial statements

 



 

 



 



 



 

 



135 Notes to the consolidated



Other information

 

 

 

Alternative performance measures































Portfolio contribution



































Adjusted earnings per share

























Dividend cover







Free cash flow per share











Discover

more online:

Our purpose

Providing capital to the mining sector

required to supply the commodities central

to a sustainable future.

Sustainability

We believe long-term value

can only be achieved

through sustainable and

responsible investment.

Read more on p53

Portfolio and sustainability highlights

New sustainability reporting

framework







Increased operator ESG

engagement







86%

response rate from operators on ESG matters

South32 royalty





development stage copper and nickel projects. The



the Group’s prior substantial weighting to income

producing assets.

~$50m

of incremental annual portfolio contribution



Rebranding as



We completed the rebranding to Ecora Resources PLC

in October 2022. The rebranding was driven by a desire



predominantly coal weighted business just two years





Record portfolio

contribution



especially in steelmaking coal and cobalt, drove record



Increased exposure to future

facing commodities







$143.2m +67% 85% +16%

Strategic report

Ecora Resources PLC

Annual Report and Accounts 2022

North America*

South America*

Other*

Australia*

Group at a glance

A portfolio positioned

for organic growth

What we do

Our vision is to be globally recognised as the royalty











low volatility earnings growth and shareholder returns.



cost operations and projects with strong management

teams, in well-established mining jurisdictions. Our



















How we do it

Royalties explained

A natural resources royalty is a non-operating interest in

a project that provides the royalty holder with the right









environmental or reclamation liabilities. A primary

royalty is entered into when the royalty company makes







Streams explained









not royalties because they do not constitute an interest in



purchase the physical metal. However, a stream holder is



capital costs, nor environmental or reclamation liabilities.



Commodity exposure*

Base metals 74%

Uranium 4%

Vanadium 2%

Steelmaking coal 12%

Other 8%



85%

of the portfolio

is future facing

Geographic exposure*

North America 42%

South America 30%

Australia 27%

Other 1%



95%

of the portfolio in

OECD countries

Stage of production*

Producing 63%

Development 35%

Early-stage 2%



63%

of the portfolio is

producing