Paul Brink

Paul Brink serves as President and CEO of Franco-Nevada Corporation, the world's largest gold-focused royalty and streaming company. Franco-Nevada was co-founded by Pierre Lassonde and Seymour Schulich, who invented the gold royalty business model — a revolutionary approach that provides investors with gold price exposure through a diversified portfolio of mining royalties and streams without the operational risks, capital expenditures, permitting challenges, and labor issues that plague traditional mining companies. Franco-Nevada holds royalty and streaming interests in over 400 mining assets across the globe, with the majority focused on gold but also including silver, platinum group metals, copper, nickel, iron ore, and energy. A royalty is a percentage of revenue or production from a mine, while a stream is a contract to purchase metal at a fixed, below-market price. In both cases, Franco-Nevada provides upfront capital to mining companies and receives ongoing revenue from production. The beauty of the model is that Franco-Nevada's costs don't increase as mines get deeper, equipment breaks, or wages rise — the mining operator bears all operational risk. Meanwhile, Franco-Nevada benefits from production growth, new discoveries on its royalty lands, and commodity price increases. Key stock drivers include gold prices (the dominant driver), silver and copper prices, production volumes from key royalty/streaming assets (Cobre Panama resolution is a current focus), new royalty/streaming deal pipeline, cash flow generation, dividend growth, and the premium/discount assigned to royalty companies versus traditional gold miners.