Gold Royalty Reports Strong Second Quarter Revenue
Gold Royalty Corp. (NYSE American: GROY) reported strong second quarter 2024 revenue, with a 298% increase in Total Revenue, Land Agreement Proceeds and Interest to $2.2 million compared to the same period in 2023. The company's revenue growth was driven by cornerstone royalties, recent acquisitions, and its royalty generator model. Key highlights include:
- First royalty payment from IAMGOLD's Côté Gold Mine
- Continued benefits from existing cash-flowing royalties
- $0.4 million in land agreement proceeds from the royalty generator model
- On track to meet 2024 forecast of 6,500-7,000 GEOs ($13-14 million in Total Revenue)
- Expected growth in second half of 2024 due to strong commodity prices and new projects
Gold Royalty Corp. (NYSE American: GROY) ha riportato un forte fatturato nel secondo trimestre del 2024, con un incremento del 298% nel Fatturato Totale, proventi da contratti fondiari e interessi, arrivando a 2,2 milioni di dollari rispetto allo stesso periodo del 2023. La crescita dei ricavi dell'azienda è stata sostenuta da royalties fondamentali, recenti acquisizioni e il suo modello di generazione di royalties. I punti salienti includono:
- Primo pagamento di royalty dalla miniera d'oro Côté di IAMGOLD
- Vantaggi continuativi dalle royalties esistenti che generano flusso di cassa
- 0,4 milioni di dollari in proventi da contratti fondiari derivanti dal modello di generazione di royalties
- In linea per raggiungere la previsione del 2024 di 6.500-7.000 GEOs (13-14 milioni di dollari in Fatturato Totale)
- Crescita attesa nella seconda metà del 2024 grazie a forti prezzi delle materie prime e nuovi progetti
Gold Royalty Corp. (NYSE American: GROY) reportó un fuerte ingreso en el segundo trimestre de 2024, con un aumento del 298% en los Ingresos Totales, Proventos de Acuerdos de Terreno e Intereses a 2.2 millones de dólares en comparación con el mismo periodo de 2023. El crecimiento de ingresos de la compañía fue impulsado por regalías clave, adquisiciones recientes y su modelo generador de regalías. Los aspectos destacados incluyen:
- Primer pago de regalías de la mina de oro Côté de IAMGOLD
- Beneficios continuos de regalías existentes que generan flujo de caja
- 0.4 millones de dólares en proventos de acuerdos de terreno del modelo generador de regalías
- En camino de cumplir con la previsión de 2024 de 6,500-7,000 GEOs (13-14 millones de dólares en Ingresos Totales)
- Crecimiento esperado en la segunda mitad de 2024 debido a fuertes precios de materias primas y nuevos proyectos
Gold Royalty Corp. (NYSE American: GROY)는 2024년 2분기 강력한 수익을 보고했으며, 전체 수익 및 토지 계약 수익 및 이자에서 2023년 같은 기간에 비해 298% 증가한 220만 달러에 달했습니다. 회사의 수익 성장은 핵심 로열티, 최근 인수 및 로열티 생성 모델에 의해 촉진되었습니다. 주요 하이라이트는 다음과 같습니다:
- IAMGOLD의 Côté 금광에서 발생한 첫 번째 로열티 지급금
- 기존 현금 흐름 로열티로 인한 지속적인 혜택
- 로열티 생성 모델에서 발생한 토지 계약 수익 40만 달러
- 2024년 6,500-7,000 GEOs(총 수익 1,300-1,400만 달러)의 예측을 충족할 예정
- 강력한 원자재 가격과 신규 프로젝트로 인해 2024년 하반기 성장 예상
Gold Royalty Corp. (NYSE American: GROY) a annoncé des revenus solides au deuxième trimestre 2024, avec une augmentation de 298 % des revenus totaux, des produits des accords fonciers et des intérêts, atteignant 2,2 millions de dollars par rapport à la même période en 2023. La croissance des revenus de l'entreprise a été alimentée par les royalties clés, les acquisitions récentes et son modèle de génération de royalties. Les points forts comprennent :
- Premier paiement de royalties de la mine d'or Côté d'IAMGOLD
- Avantages continuels des royalties existantes générant des flux de trésorerie
- 0,4 million de dollars provenant des accords fonciers du modèle de génération de royalties
- En bonne voie pour atteindre les prévisions 2024 de 6 500 à 7 000 GEOs (13 à 14 millions de dollars de revenus totaux)
- Croissance prévue dans la seconde moitié de 2024 grâce à des prix des matières premières solides et à de nouveaux projets
Gold Royalty Corp. (NYSE American: GROY) berichtete über einen starken Umsatz im zweiten Quartal 2024, mit einem Anstieg von 298% beim Gesamtumsatz, den Einnahmen aus Landverträgen und Zinsen auf 2,2 Millionen Dollar im Vergleich zum gleichen Zeitraum 2023. Das Umsatzwachstum des Unternehmens wurde durch maßgebliche Royalties, kürzliche Akquisitionen und sein Royalties-Generator-Modell unterstützt. Zu den wichtigsten Höhepunkten gehören:
- Erste Royaltazahlung aus der Côté Gold Mine von IAMGOLD
- Fortdauernde Vorteile aus bestehenden Cash-Flow-Royalties
- 0,4 Millionen Dollar an Einnahmen aus Landverträgen aus dem Royalties-Generator-Modell
- Auf Kurs, die Prognose für 2024 von 6.500-7.000 GEOs (13-14 Millionen Dollar Gesamtumsatz) zu erfüllen
- Erwartetes Wachstum in der zweiten Hälfte von 2024 aufgrund starker Rohstoffpreise und neuer Projekte
- 298% increase in Total Revenue, Land Agreement Proceeds and Interest to $2.2 million in Q2 2024
- 153% increase in Total Revenue, Land Agreement Proceeds and Interest to $6.4 million for H1 2024
- First royalty payment received from IAMGOLD's Côté Gold Mine
- On track to meet 2024 forecast of 6,500-7,000 GEOs ($13-14 million in Total Revenue)
- Expected revenue growth in H2 2024 due to Côté ramp-up and Vares Project commercial production
- None.
Gold Royalty's strong second quarter revenue is a significant indicator of its financial health and future prospects. The reported 298% increase in revenue to $2.2 million is substantial and suggests effective management and successful execution of its royalty model. This substantial growth also reflects the strategic importance of their recent acquisitions and the commencement of payments from the Côté royalty. For retail investors, the short-term implications are positive, as the company's strong revenue growth is likely to boost investor confidence and potentially the stock price.
Long-term benefits include continued revenue from established royalties and future payments from upcoming projects like the Vares Project. Investors should keep an eye on commodity prices, as the company’s forecasts are based on assumed prices for gold and copper. Any significant deviation in these prices could impact profitability. The company's ability to meet its projected revenue of $13-$14 million for 2024 is critical. The launch of commercial production in the third and fourth quarters will be pivotal events to watch.
Overall, this news demonstrates the company’s strengthening position in the market, making it a potentially attractive investment for those looking for exposure to the gold royalty sector.
The 300% increase in revenue is a remarkable achievement, underscoring the effectiveness of Gold Royalty's business strategy. The company’s unique royalty generator model seems to be paying off, creating a diversified revenue stream that is less susceptible to market fluctuations compared to traditional mining operations. This model also allows Gold Royalty to capitalize on rising commodity prices without the high risks associated with direct mining activities.
The commencement of payments from the Côté Gold Mine and contributions from other projects like the Borborema and Canadian Malartic Mines highlight the company's diverse portfolio. The expected ramp-up in production at these mines suggests a continuing positive revenue trend. Investors should note the strategic value of these diversified income sources, which reduce the company's risk exposure.
From a market perspective, Gold Royalty’s robust second-quarter performance may positively influence its stock price in the short term. Long-term investors might also find the company’s steady growth and revenue diversification strategy appealing, providing a balanced risk-reward profile in the gold investment space.
While the main focus of the news is financial, it’s worth noting that technology plays a significant role in Gold Royalty's operations. Advances in exploration technology and data analytics have likely contributed to the effective identification and management of profitable royalty streams. Improved technologies in mining operations also benefit the company's partners, leading to more reliable and increased royalty payments.
For retail investors, understanding the role of technology might not be immediately obvious, but it’s a important component of the company’s competitive edge. Companies that leverage advanced technology in their processes often have better operational efficiencies and lower costs, contributing to improved financial performance.
In the long run, Gold Royalty’s commitment to incorporating cutting-edge technology could further enhance its ability to generate higher returns on its investments. Investors should look for updates on how the company plans to integrate new technologies into its royalty management strategy, as this could be a strong indicator of future growth potential.
• Approximate
• Côté royalty, acquired in 2022, commences payments in the second quarter of 2024.
Preliminary Second Quarter 2024 Revenue
Gold Royalty recorded preliminary second quarter 2024 Total Revenue, Land Agreement Proceeds and Interest* of
In the second quarter of 2024, the Company recorded its first royalty payment from IAMGOLD's Côté Gold Mine and continued to benefit from its existing cash flowing royalties at the Borborema Project and the Canadian Malartic, Cozamin, and Borden Mines. The Company's royalty generator model added
As previously disclosed, the company expects to see further growth in Revenue in the second half of 2024 with strong commodity prices, the expected ramp up of Côté towards commercial production in the third quarter of 2024, and the commencement of commercial production at the Vares Project in the fourth quarter of 2024.
The Company remains on track to meet its previously disclosed updated forecast for 2024 of between approximately 6,500 and 7,000 GEOs, which equates to approximately
The 2024 foregoing outlook is based on an assumed gold price of
* Total GEOs and Total Revenue, Land Agreement Proceeds and Interest are non-IFRS financial measures. See "Non-IFRS Measures" below.
Second Quarter 2024 Results and Webcast Details
Gold Royalty will release its quarterly financial and operating results for the three and six months ended June 30, 2024, on Tuesday, August 13, 2024, after market close.
An investor webcast will be held on Wednesday, August 14, 2024 starting at 11:00 am ET (8:00 am PT) to discuss these results. Management will be providing an update to interested stakeholders on the Company's quarterly results including key recent catalysts that have been announced on the assets underlying the Company's royalties. The presentation will be followed by a question-and-answer session where participants will be able to ask any questions they may have of management.
To register for the investor webcast, please click the link below: https://www.bigmarker.com/vid-conferences/GROY-Q2-Results
A replay of the event will be available on the Gold Royalty website following the presentation.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the
Forward-Looking Statements:
Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and
Non-IFRS Measures
We have included, in this document, certain performance measures, including: (i) Total Revenue, Land Agreement Proceeds and Interest; and (ii) GEOs which are each non-IFRS measures. The presentation of such non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.
Total Revenue, Land Agreement Proceeds and Interest reconciliation
Total Revenue, Land Agreement Proceeds and Interest are determined by adding land agreement proceeds credited against mineral properties and the gold-linked loan interest. The Company has included this information as management believes certain investors use this information to evaluate our performance in comparison to other gold royalty companies in the precious metal mining industry. Below is a reconciliation of our Total Revenue, Land Agreement Proceeds and Interest to total revenue for the three and six-months ended June 30, 2024 and 2023, respectively:
For the three months | For the six months | |||||||
2024 | 2023 | 2024 | 2023 | |||||
(in thousands of dollars) | ($) | ($) | ($) | ($) | ||||
Royalty | 943 | 399 | 2,005 | 633 | ||||
Advance minimum royalty and pre-production royalty | 613 | 25 | 1,443 | 356 | ||||
Land agreement proceeds | 401 | 133 | 2,453 | 1,538 | ||||
Loan interest | 258 | — | 499 | — | ||||
Total Revenue, Land Agreement Proceeds and Interest | 2,215 | 557 | 6,400 | 2,527 | ||||
Land agreement proceeds credited against mineral properties | (163) | (89) | (1,213) | (1,292) | ||||
Loan interest | (258) | — | (499) | — | ||||
Revenue | 1,794 | 468 | 4,688 | 1,235 |
GEOs
Total GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by the average gold prices for the applicable quarter:
(in thousands of dollars, except Average Gold Price/oz and GEOs) | Average | Total | GEOs | |||
For three months ended June 30, 2024 | 2,338 | 2,215 | 947 | |||
For three months ended June 30, 2023 | 1,978 | 557 | 282 | |||
For six months ended June 30, 2024 | 2,157 | 6,400 | 2,967 | |||
For six months ended June 30, 2023 | 1,908 | 2,527 | 1,324 |
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SOURCE Gold Royalty Corp.
FAQ
What was Gold Royalty Corp's (GROY) revenue growth in Q2 2024?
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