The Globe and Mail reports in its Friday, Jan. 9, edition that Canaccord Genuity analyst Carey MacRury became the first to commence coverage of Evolve Royalties, giving the Toronto-based company, formerly known as Voyageur Mineral Explorers, a "buy" rating and $4.25 share target. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacRury says in a note: "Evolve is a new royalty and streaming company focused on building a diversified portfolio of royalties and streams in copper and other critical metals with a target weighting of 75-per-cent copper and 25-per-cent other strategic metals. The company went public via an RTO in December 2025. Balance sheet geared for growth: The company has $40-million in cash and no debt. We believe the company could fund new acquisitions with cash on hand, potential debt financing and/or acquiring assets with its shares. Given Evolve's management track record of sourcing deals, we believe the company is well-positioned to source copper royalty and streaming opportunities against a backdrop of strong copper demand driven by decarbonization, electrification and AI data centre demand, and the associated capital requirements to fund new copper supply."