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.
U.S. GoldMining announced the closing of its initial public offering (IPO) on April 24, 2023, issuing 2,000,000 units at US$10.00 each, totaling gross proceeds of US$20 million. Each unit consists of one share of common stock and one warrant, exercisable at US$13.00 for three years. Shares and warrants began trading on the Nasdaq Capital Market under the tickers USGO and USGOW. The net proceeds will fund exploration and development activities at the Whistler gold-copper project in Alaska, repay advances from GoldMining, and support working capital. The IPO positions U.S. GoldMining to leverage growth opportunities at the Whistler Project, which has substantial gold-copper resources. GoldMining currently controls approximately 80.1% of U.S. GoldMining's outstanding shares following the IPO.
GoldMining Inc. and its subsidiary, U.S. GoldMining Inc. (USGO), announced the pricing of an initial public offering (IPO) of 2,000,000 units at $10.00 each. Each unit consists of one share of common stock and a warrant to purchase one share at $13.00 for three years. The offering aims to raise $20 million in gross proceeds, closing on or about April 24, 2023. USGO's shares and warrants will begin trading on the Nasdaq Capital Market from April 20, 2023, under symbols USGO and USGOW, respectively. GoldMining will retain approximately 79% of USGO's outstanding shares post-offering. The offering is underwritten by H.C. Wainwright & Co. and BMO Capital Markets.
Gold Royalty Corp. (GROY) reported operating and financial results for the three-month transition period ending December 31, 2022, showing an 11% revenue increase to $1.1 million. The company forecasts total revenues between $5.5 million and $6.5 million for 2023 and holds $35 million in liquidity. GROY declared its fifth consecutive quarterly dividend, yielding over 1.8%. The company is preparing for growth with projects like Odyssey ramping up production in 2023 and Côté projected to start in 2024. Challenges include a net loss of $2.2 million for Q4 2022, down from $6.8 million the prior year.
GoldMining Inc. (NYSE American: GLDG) announced the filing of its annual financial statements for the year ending November 30, 2022. The filings include management's discussion and analysis, annual information form, and Form 40-F, which detail the company's financial position and operations. Shareholders can access these documents on SEDAR and EDGAR. GoldMining focuses on acquiring and developing gold assets across the Americas, holding a diverse portfolio of projects in Canada, the U.S., Brazil, Colombia, and Peru. Notably, the company owns over 21 million shares of Gold Royalty Corp. (NYSE American: GROY).
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