Welcome to our dedicated page for Gold Royalty news (Ticker: GROY), a resource for investors and traders seeking the latest updates and insights on Gold Royalty stock.
Gold Royalty Corp. (NYSE American: GROY) is a gold-focused royalty company that offers creative financing solutions to the metals and mining industry. The company's 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 shareholders.
The company’s core business involves the acquisition of royalties, streams, and similar interests at various stages of the mine life cycle. Gold Royalty Corp’s portfolio primarily consists of net smelter return (NSR) royalties on gold properties located throughout the Americas. This diversified portfolio not only mitigates risk but also positions the company to benefit from various mining operations and projects.
In recent developments, Gold Royalty Corp announced a three-year mutual cooperation agreement with Taurus Mining Royalty Fund L.P. This partnership provides both parties the ability to co-invest in specific precious metals royalties and streams sourced by each other, enhancing their ability to pursue high-quality investments and gain access to new geographic regions.
Financially, the company has achieved significant milestones. In the first quarter of 2024, Gold Royalty Corp generated positive operating cash flow for the first time, driven by recent acquisitions and a peer-leading long-term growth outlook. Key contributors to this achievement include the Côté Gold Mine, the Odyssey Mine, and other flagship royalties.
Gold Royalty Corp. continues to strengthen its portfolio through strategic acquisitions. It recently secured a copper stream in respect of the Vares Silver Project, operated by a subsidiary of Adriatic Metals plc. This acquisition is expected to boost the company's total revenue and gold equivalent ounces (GEOs) in 2024 significantly.
Gold Royalty Corp. (NYSE American: GROY) has initiated a formal offer to acquire Elemental Royalties Corp. (TSX-V: ELE). The offer values Elemental at C$1.78 per share, presenting a 37% premium based on its share price prior to the announcement. The acquisition aims to create a portfolio of 200 strategic royalties, enhancing liquidity and growth potential for shareholders. Gold Royalty’s strong balance sheet, with US$37 million in cash and no debt, supports future growth. An investor call is scheduled for January 12, 2022, to discuss the offer.
Gold Royalty Corp. (NYSE American: GROY) announced its intention to acquire all outstanding common shares of Elemental Royalties Corp. (TSXV: ELE) at a value of C$1.78 per share, representing a 37% premium based on December 17, 2021 closing figures. The total equity value of Elemental is approximately C$130 million. This acquisition aims to create a diversified portfolio of 200 strategic royalties, enhancing trading liquidity and benefiting from Gold Royalty's strong balance sheet with US$30 million in cash. The transaction is expected to be completed in 105 days, subject to customary conditions.
Gold Royalty Corp. (NYSE American: GROY) provided a comprehensive update on its royalty portfolio, highlighting advancements in producing and development projects. Key updates include:
- Canadian Malartic's Odyssey Project is advancing with ramp and shaft construction ahead of schedule and under budget.
- Wallbridge Mining's Fenelon Gold Project reported a maiden resource estimate of 2.13 million ounces Indicated and 1.47 million ounces Inferred.
- Barrick's REN Project shows significant discovery potential, with drill results indicating upside for short-term production.
Gold Royalty Corp. (GROY) will host a Town Hall Meeting on November 15, 2021 at 12:00 pm EST. CEO David Garofalo and Chief Development Officer John Griffith will update stakeholders on the recent combination with Abitibi Royalties and Golden Valley Mines and Royalties. The meeting will include a Q&A session for shareholders to engage with management. Gold Royalty focuses on acquiring royalties and streams throughout the mining lifecycle, aiming for attractive returns with a diversified portfolio of net smelter return royalties on gold properties in the Americas.
Gold Royalty Corp. (NYSE American: GROY) has successfully completed business combinations with Abitibi Royalties and Golden Valley Mines and Royalties Ltd. This consolidation enhances Gold Royalty's portfolio, including a prominent royalty over the Canadian Malartic mine. As of November 4, 2021, Gold Royalty holds approximately US$45 million in cash and marketable securities. The transactions result in the acquisition of 61,104,200 Gold Royalty Shares and will lead to the delisting of Golden Valley and Abitibi shares from the TSX Venture Exchange as of November 5, 2021.
Gold Royalty Corp. (NYSE American: GROY) announced an update on its royalty interests, highlighting growth from cash-flowing and development-stage assets. The company will have six royalty interests from five producing mines, including Jerritt Canyon and Canadian Malartic. Jerritt Canyon shows significant exploration potential under First Majestic Silver's ownership. The Isabella Pearl Mine is among the lowest-cost producers globally, enhancing cash flow prospects. Additionally, several projects in the feasibility stage could introduce new cash flow within the medium to long term.
Gold Royalty Corp. (NYSE American: GROY) will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. CEO David Garofalo will discuss the company's business during a live presentation and engage in one-on-one meetings with registered investors. Interested institutional investors can attend the presentation virtually or listen online starting September 13 at 7:00 AM ET. Gold Royalty focuses on acquiring royalties and streams in the mining sector, primarily in the Americas, aiming for attractive returns for investors.
Gold Royalty Corp. (GROY) has signed a commitment letter with the Bank of Montreal for a fully underwritten US$10 million revolving credit facility, expandable to US$25 million. This facility aims to enhance the company's financial flexibility for corporate purposes and investments. Expected to close by September 30, 2021, the facility has a maturity date of December 31, 2022. CFO Josephine Man expressed optimism about the facility's contribution to strengthening GROY's balance sheet and supporting its diversified royalty portfolio.
Gold Royalty Corp. (GROY) announced a C$2 million private placement investment for a 12.5% stake in Prospector Royalty Corp. (PRC). This strategic alliance includes a royalty referral arrangement, allowing GROY access to PRC's proprietary royalty database. CEO David Garofalo expressed optimism about leveraging PRC's capabilities to enhance GROY's royalty generation. The investment aims to align both companies for mutual growth. Tim Young, a seasoned prospector, joins GROY's Advisory Board, further strengthening the company's position in the market.
Gold Royalty Corp. (GROY) has successfully completed its business combination with Ely Gold Royalties Inc. (ELYGF), establishing a significant player in the precious metals royalty sector. The transaction involved acquiring all Ely Gold common shares, resulting in Ely Gold becoming a wholly-owned subsidiary of GRC. GRC now boasts four producing royalties and numerous assets at different development stages, enhancing its portfolio and cash flow. This merger aligns with GRC's strategy to consolidate its position in the royalty space and create shareholder value.
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