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) announced an Investor Webcast on November 22 at 8:00 AM PST. CEO David Garofalo and other executives will discuss the Company’s royalty portfolio, focusing on recent catalysts affecting their assets. The session will include a question-and-answer segment for stakeholders. Gold Royalty specializes in acquiring royalties and streams within the metals and mining sector, with a diversified portfolio primarily consisting of net smelter return royalties on gold properties across the Americas.
GoldMining has announced positive assay results from the LME1111 drill hole at its La Garrucha target in Colombia. The results include significant intersections, such as 251.46 m averaging 0.60 g/t Au and 0.08% Cu. The drilling program has extended the mineralized porphyry system, now measuring over 400 m in strike length and 300 m in width, with mineralization reaching depths of approximately 775 m. An updated mineral resource estimate for the La Mina Project is expected in Q4 2022, with plans for a Preliminary Economic Assessment in 2023.
Gold Royalty Corp. (NYSE American: GROY) has completed its acquisition of a royalty portfolio from Nevada Gold Mines LLC for US$27.5 million. The deal includes a 10% net profits interest royalty on the Granite Creek Mine, a 2.00% net smelter return royalty on the Bald Mountain Mine, and a 1.25% NSR on the Bald Mountain Joint Venture Zone. The acquisition was funded by issuing 9,393,681 common shares to NGM at a deemed price of approximately US$2.93 per share, enhancing Gold Royalty's portfolio of gold properties in the Americas.
Gold Royalty Corp. (GROY) announced an extension of its $25 million secured revolving credit facility with Bank of Montreal to March 31, 2025. The facility includes a $10 million revolving credit and a potential $15 million accordion feature for additional liquidity. CFO Josephine Man emphasized the competitive terms and the facility's support for the company's growth through strategic acquisitions. The facility can be used for general corporate purposes and has interest rates tied to the Base Rate or Adjusted Term SOFR.
Gold Royalty Corp. (NYSE American: GROY) has entered an agreement with Nevada Gold Mines LLC to acquire royalties worth US$27,500,000. The acquisition includes a 10% Net Profits Interest (NPI) on the Granite Creek Mine and two Net Smelter Return (NSR) royalties on the Bald Mountain Mine. The transaction involves issuing 9,393,681 common shares to NGM. Gold Royalty aims to enhance its royalty portfolio in Nevada, recognized as a top mining jurisdiction. Closing is expected by the end of the current quarter.
Gold Royalty Corp. (NYSE: GROY) announced its third quarterly cash dividend of US$0.01 per common share, payable on September 30, 2022, to shareholders of record as of September 20, 2022. The dividend qualifies as an ‘eligible’ dividend under Canada’s Income Tax Act, subject to withholding tax for non-resident shareholders. This program envisions quarterly dividends at the board's discretion, influenced by the company's financial condition. Gold Royalty focuses on acquiring royalties and streams in the metals and mining sector to provide attractive returns for investors.
Gold Royalty Corp. (NYSE American: GROY) reported record revenues for Q3 of $1.9 million and $3.1 million for the nine months ending June 30, 2022. Projected revenue guidance for the fiscal year is approximately $5 million, supported by production at Beaufor and the Beacon Mill. The company holds 198 royalties in premier mining jurisdictions and has cash and equivalents of $17.1 million as of June 30, 2022. An 'at-the-market' equity program is set to raise up to $50 million for growth and acquisition initiatives.
Gold Royalty Corp. (NYSE American: GROY) will announce its 2022 Q3 financial and operating results on August 15, 2022, after market close. An investor webcast is scheduled for August 18, 2022, at 11:00 am ET to discuss the results and recent catalysts affecting its royalty assets. The company aims to offer creative financing solutions in the metals and mining sector, focusing on acquiring royalties and similar interests that provide attractive returns. This diversified portfolio primarily encompasses net smelter return royalties on gold properties across the Americas.
Gold Royalty Corp. (NYSE American: GROY) announced the commencement of royalty payments from Newmont Corporation for its Borden Lake net smelter return (NSR) royalty. The Company has received approximately $1.4 million in back payments following confirmed mining activity at Newmont's Borden Mine in Ontario, Canada. The 0.50% NSR covers certain claims within a five-kilometer area of interest. The Borden Mine, operational since 2019, is noted for its environmentally friendly practices and is expected to produce over 100,000 ounces of gold annually.
GoldMining announced positive initial assay results from its ongoing drilling program at the La Garrucha target in Antioquia, Colombia, part of the La Mina project. The initial assays from drill holes LME1107 and LME1108 indicate significant mineralization, with LME1107 showing 207.95 m at 0.62 g/t AuEq and LME1108 reporting 345.54 m at 0.74 g/t AuEq. The drilling confirms the extension of porphyry-style mineralization, suggesting further resource potential. The project aims to enhance the company's gold and copper portfolio across the Americas.
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