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.
GoldMining Inc. (GLDG) has entered into a Distribution Agreement for a new at-the-market equity program to raise up to US$50 million. This program replaces a previous one expiring January 1, 2023, and allows the company to sell common shares at market price. The proceeds will fund exploration, development, acquisitions, and working capital. The new program takes effect upon filing a prospectus supplement and will terminate upon reaching sales of US$50 million or on November 27, 2023, whichever comes first.
Gold Royalty Corp. (NYSE American: GROY) reported strong financial results for the fiscal year ending September 30, 2022, achieving total revenues of $5.7 million from its royalty generation program. This surpassed the initial guidance of $5.0 million. The company also recorded a significant increase in Gold Equivalent Ounces (GEOs), totaling 2,156 for the year. Additionally, it completed acquisitions and expanded its portfolio to 216 royalties. Gold Royalty plans to publish its inaugural Asset Handbook and ESG Report in 2023, optimizing its fiscal year ending to align with industry peers.
Gold Royalty Corp. (NYSE American: GROY) announced a deal with Val-d'Or Mining Corporation to sell and generate royalties on 12 properties in Québec and Ontario. The Company retains a 0.5% to 1.0% NSR royalty on these properties and a 1.5% NSR on certain joint venture properties. Additionally, a strategic alliance with International Prospect Ventures grants Gold Royalty a right of first refusal on royalties in Australia. Currently, Gold Royalty holds a 35% stake in Val-d'Or and 11% in International Prospect Ventures, aiming to enhance its portfolio and revenue streams.
Gold Royalty Corp. (NYSE American: GROY) announced its fourth quarterly cash dividend of US$0.01 per common share on November 22, 2022. This dividend will be paid on December 30, 2022 to shareholders of record as of December 15, 2022. The dividend is categorized as an "eligible" dividend under the Canadian Income Tax Act, subject to standard Canadian withholding tax for non-residents. The company will continue a quarterly dividend program based on financial condition and capital allocation plans.
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.
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