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) announces a letter from Chairman Amir Adnani detailing significant advancements and shareholder value from its asset portfolio. With $120 million in cash and securities, GoldMining expects annual dividend cash flow of $1 million from its 20 million shares in Gold Royalty Corp (GROY). The creation of U.S. GoldMining focuses on the Whistler gold-copper Project, projected to attract major mining companies. Additionally, a recent PEA at the La Mina Project suggests a net present value of $232 million. The company continues strengthening its management and technical teams, aiming to enhance project economics.
Gold Royalty Corp. (NYSE American: GROY) issued a letter to Elemental Royalties Corp. shareholders, asserting that a merger is the superior option. The letter highlights Elemental's lackluster strategic review and recent capital raising at C$1.51 per share, below Gold Royalty's C$1.78 offer. It emphasizes the benefits of the merger, including a portfolio of over 200 royalties, projected revenues of US$18 million in 2023, increasing to US$40 million by 2027, enhanced liquidity, and a sustainable dividend. Additionally, Gold Royalty secured a commitment to upsize its credit facility to US$40 million.
Gold Royalty Corp. (NYSE: GROY) announced a definitive agreement with Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) for C$4.5 million in royalty financing, enhancing their existing gold royalty interests. This includes raising the per tonne royalty on the Beaufor Mine and increasing net smelter return royalties to 2.75% for several properties. The deal also eliminates existing buyback rights and retains pre-emptive rights for future royalties. The transaction, to be completed by April 2022, aims to enhance cash flow as Monarch plans to restart production at the Beaufor Mine in June 2022.
Gold Royalty Corp. (NYSE American: GROY) has announced its inaugural quarterly cash dividend of US$0.01 per common share, scheduled for payment on March 31, 2022. Shareholders of record as of March 15, 2022 will receive this dividend. The company continues to focus on acquiring high-quality precious metals royalty assets, including a recent acquisition in the Côté Gold Project, expanding its portfolio to 28 royalties. The dividend qualifies as an 'eligible' dividend under the Income Tax Act in Canada and is subject to withholding tax for non-residents.
Gold Royalty Corp. (NYSE: GROY) has finalized its acquisition of a 0.75% net smelter return royalty on a section of the Côté Gold Project in Ontario, Canada, owned by IAMGOLD Corporation and Sumitomo Metal Mining Co., Ltd. The transaction was valued at US$15.875 million, consisting of US$15 million in cash and the issuance of 207,449 common shares based on a price of US$4.218 per share. This acquisition aims to enhance Gold Royalty's portfolio and provide attractive returns for investors.
Gold Royalty Corp. announced an update revealing significant progress within its royalty portfolio. The construction of the Côté Gold Project is 43% complete, with expected production in late 2023 and an average annual yield of 489,000 ounces over the first five years. The Côté royalty is anticipated to contribute between $1.9 million and $3.1 million to cash flow in 2024 and 2025. Overall, Gold Royalty expects revenues to grow from $7 million in 2022 to $17 million in 2024.
Gold Royalty Corp. (NYSE American: GROY) announced an agreement to acquire a 0.75% net smelter return royalty on IAMGOLD's Côté Gold Project in Ontario for US$15.875 million. This acquisition is expected to enhance Gold Royalty's portfolio of 28 producing and developing royalties in Tier one jurisdictions. The Côté Gold Project is projected to produce 489,000 oz Au annually in its first five years, with commercial production expected in H2 2023. The transaction, funded through cash and common shares, is expected to close by early March 2022.
Gold Royalty Corp. (NYSE American: GROY) will hold a Town Hall Meeting on February 24, 2022 at 8:00 AM PST. CEO David Garofalo and Chief Development Officer John Griffith will update stakeholders on the company's royalty portfolio and recent catalysts affecting its assets. This presentation will be followed by a Q&A session for attendees. Gold Royalty Corp. focuses on acquiring royalties and streams in the gold sector, aiming to build a balanced portfolio that offers attractive returns.
Gold Royalty Corp. (NYSE American: GROY) announced the appointment of Karri Howlett to its board of directors, effective immediately. With over 20 years of experience in ESG, financial diligence, and risk management, Howlett is expected to provide valuable insights to the board. She has held key positions, including director at SaskPower and principal of her own consulting firm since 2006. Gold Royalty aims to grow its portfolio of mining royalties and maintain strong returns for investors.
Gold Royalty Corp. (GROY) announced the results of its annual general meeting held on February 9, 2022, where all six nominated directors were elected. A quorum of 39.722% was present for the vote. Key voting outcomes included David Garofalo receiving 95.73% approval, while Glenn Mullan had 84.56% approval. Additionally, shareholders approved the appointment of PricewaterhouseCoopers LLP as auditors for the upcoming year. Detailed voting results are accessible on SEDAR.
The company focuses on acquiring royalties and streams in the metals and mining industry to ensure attractive returns for its investors.
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