LunR Royalties Sets Sights on the Next Tier of Streaming | Adam Lundin

Less than a year after its launch as a public company, LunR Royalties is already looking to compete for much larger precious-metals deals after establishing its first major cash-flowing asset at Fruta del Norte. Speaking with Kitco Mining’s Paul Harris at the 2026 Mining Forum Americas, CEO Adam Lundin said LunR is prepared to evaluate transactions ranging from $50 million to as much as $1.5 billion. The company’s approximately $670 million Fruta del Norte silver stream has already started generating revenue, while a $150 million credit facility gives LunR additional capacity to pursue future deals. “Try and punch above our weight,” Lundin said, while stressing that growth must remain disciplined. LunR is also looking beyond Lundin Group companies for future royalties and streams, including overlooked precious-metal byproducts at major producing mines. Lundin said that even without another acquisition, continued growth at Fruta del Norte and the eventual development of Lunahuasi and Los Helados could potentially triple current cash flow over time. The company is also open to partnering with larger royalty groups on major transactions where a syndicated approach makes sense, with Lundin saying shareholder returns remain the ultimate measure of success. Special thanks to our sponsor, Metalla Royalty & Streaming. To learn more, visit: https://www.metallaroyalty.com/ Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:53 - Building LunR’s Royalty and Streaming Team 01:34 - Targeting $50M to $1.5B Deals 02:46 - Cash Flow, Credit Capacity and Cost of Capital 04:09 - How the Lundin Name Helps Win Deals 05:38 - Fruta del Norte Silver Stream Upside 08:02 - Managing Conflicts and Independent Deal Review 10:04 - Expanding Beyond Lundin Group Companies 11:24 - Discipline, Cash Flow and Shareholder Returns 12:47 - Lunahuasi, Los Helados and Future Growth 15:30 - Syndicating Larger Royalty Deals and Next Catalysts __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - https://www.instagram.com/kitcomining LinkedIn - https://www.linkedin.com/company/kitco-mining Facebook - https://www.facebook.com/KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold   For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc. Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.