Summit Royalties Ltd.: Copperstone Could Become Its Flagship Gold Stream

Recorded on October 1, 2026 at NRS Studios
TSXV: SUM
OTCQX: SUMMF

Andy Millette interviews Drew Clark, President, CEO & Director of Summit Royalties Ltd., about the company’s precious-metals royalty and streaming portfolio, current cash flow, production growth and acquisition strategy.

Summit currently lists 46 assets: 2 streams and 44 royalties. Four are producing—Bomboré, Keysbrook, Madsen and Zancudo—while Copperstone and Pitangui are development-stage assets. Drew explains why Copperstone stands out in the near term. Summit holds a 4% gold stream with a 25% ongoing payment, and Drew discusses construction, expected production and potential open-pit expansion.

The interview also covers Summit’s 50% Bomboré silver stream, 1.0% Madsen NSR royalty, Zancudo, Pitangui and its AurMac royalty exposure through Banyan Gold. Drew describes the strategy as “layering”: producing assets, clear paths to production and exploration optionality.

Drew discusses how Summit values deals, the Saddle North acquisition, operator quality and the company’s revolving credit facility. Summit has access to an initial US$25 million facility plus a US$25 million accordion, for up to US$50 million. He says the objective is to grow cash flow per share while limiting equity dilution.

On capital structure, Drew states that Summit has 103.9 million shares outstanding, no warrants, approximately 12% management ownership, approximately 11% IAMGOLD ownership and more than 40% institutional ownership. He also discusses catalysts across Copperstone, Madsen and AurMac.

Disclosure: Andy states that he owns shares of Summit Royalties. Summit Royalties is also a sponsor of NaturalResourceStocks.net. This is not an endorsement. Do your own due diligence.

KEY TOPICS
• Producing royalties and near-term growth
• Copperstone gold stream and open-pit potential
• Bomboré, Madsen, Zancudo and Pitangui
• AurMac and Banyan Gold
• Royalty valuation and operator quality
• Up to US$50M revolving credit facility
• Share structure, ownership and catalysts

SUMMIT ROYALTIES LTD.
Website: https://www.summit-royalties.com/
Copperstone: https://www.summit-royalties.com/portfolio/key-assets/copperstone
LinkedIn: https://www.linkedin.com/company/summit-royalties
X: https://x.com/SummitRoyalties

DREW CLARK
Bio: https://www.summit-royalties.com/about/management-team
LinkedIn: https://ca.linkedin.com/in/drew-clark-2a09532

HOST — ANDY MILLETTE | NATURAL RESOURCE STOCKS
Website: https://naturalresourcestocks.net/
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CHAPTERS

00:00 Copperstone and Banyan Cold Open
01:08 Drew Clark and Summit Royalties
01:16 Disclosure and Royalty Layering
02:24 Four Producing Assets
03:58 Madsen, Bomboré, Keysbrook and Zancudo
05:14 Pitangui Growth
05:53 Copperstone Gold Stream
08:25 Six-Month Catalyst Window
09:07 AurMac and Longer-Term Optionality
11:05 Layering and Cash Flow
12:23 How Summit Values Deals
13:41 Credit Facility and Growth
14:23 Share Structure and Ownership
15:58 Valuation and Catalysts
18:28 Tickers, Website and Closing

Visit Summit Royalties Ltd Website

Summit Royalties Ltd may be a sponsor of NaturalResourceStocks.net. This news release is provided by Summit Royalties Ltd.

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