◆ Silver Crown Royalties (“SCRI”, or “Company”) is the only publicly traded, pure-play silver royalty company, rapidly positioning itself as the leading provider of non-dilutive financing. It offers investors a unique and diversified entry point into the silver market. ◆ Strong and steady revenue growth: Since its listing, the company has posted eight consecutive quarters of revenue growth with a staggering average quarterly growth rate of more than 30%. The trend is expected to continue, resulting in significant revenue growth in the quarters to come. ◆ Validated strategy: SCRI's disciplined approach to royalty selection and acquisition has been highly effective. Backed by a seasoned, well-connected team, the company continues to add high-quality, accretive royalties, reinforcing its growth momentum. ◆ We are maintaining coverage with a BUY rating for the company and a target price of $45.67 per share over 24 months.