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Gold Royalty reports Q4 revenue $900,000 » 06:5812/2712/27/22
David Garofalo, Chairman…
David Garofalo, Chairman and CEO of Gold Royalty, commented, "We are pleased to have exceeded our fiscal 2022 guidance with $5.7 million in Total Revenues and Option Proceeds from our highly successful royalty generation program. This marks the first full fiscal year for Gold Royalty as a public company with our portfolio already delivering meaningful organic revenue growth, and with several of our most significant royalties on high-quality, long-life projects expected to enter production in the next 12 to 18 months. Our current asset base and strong balance sheet give us a solid foundation to grow and we are optimistic that we can continue to accretively add new assets to the portfolio. We are also pleased to announce that we will be publishing our inaugural Asset Handbook and ESG & Sustainability Report in the first half of 2023," added Garofalo.
Gold Royalty acquires 12 royalties in Quebec, Ontario » 06:3912/0212/02/22
Gold Royalty announced…
Gold Royalty announced that it has entered into an agreement with Val-d'Or Mining Corporation to sell and generate royalties on 12 prospective properties in Quebec and Ontario. Under the VZZ agreement, the company will also retain a right of first refusal on any royalty or similar interest sold by Val-d'Or Mining. Gold Royalty has also entered into a strategic alliance with International Prospect Ventures providing the company with a ROFR on any royalty or similar interest sold by International Prospect Ventures in Australia. The strategic alliance also includes a royalty referral arrangement which will provide Gold Royalty with the opportunity to acquire certain royalties identified by International Prospect Ventures in Australia. Gold Royalty will divest the mineral rights and interests to Val-d'Or Mining and retain a 0.5% to 1.0% net smelter return royalty on the following properties located in Quebec and Ontario: Bogside, Bogside NW, Cheechoo B East, Island 27, Matachewan, Munro, North Contact, Recession Larder, Riverside, Sharks, Smokehead and Titanic. Gold Royalty will assign to Val-d'Or Mining all rights, title, obligations and interests under the option agreement between a subsidiary of Gold Royalty and Eldorado Gold Inc. dated October 8, 2021. Gold Royalty will divest the mineral rights and interests to Val-d'Or Mining and, subject to certain closing conditions, including but not limited to consent of the assignment from Eldorado, will retain rights to a 1.5% NSR royalty on all properties subject to joint venture agreements consisting of the Claw Lake, Cook Lake and Murdoch Creek properties in Ontario and the Perestroika Prospect in Quebec. Gold Royalty will retain a ROFR on any royalty or similar interest that Val D'Or Mining intends to sell, transfer or otherwise dispose of. The ROFR is subject to Gold Royalty and its affiliates holding at least 10% of the outstanding common shares of Val-d'Or Mining. Gold Royalty currently owns 35% of the outstanding common shares of Val-d'Or Mining. The transactions contemplated by the VZZ Agreement are subject to customary closing conditions.
Gold Royalty names Andrew Gubbels as CFO, effective January 1, 2023 » 16:3211/2111/21/22
Gubbels will assume the…
Gubbels will assume the responsibilities of CFO from Josephine Man, who will be leaving the company in 2023 to focus on other opportunities.
Nevada Gold Mines closes sale of royalty portfolio to Gold Royalty for $27.5M » 07:1709/2809/28/22
Nevada Gold Mines (GOLD)…
Nevada Gold Mines (GOLD) announced the closing of its previously announced sale of a portfolio of royalties to Gold Royalty Corp. (GROY) for $27.5M, satisfied through the issuance by Gold Royalty to NGM of 9,393,681 common shares. NGM currently owns approximately 6.5% of the issued and outstanding shares of Gold Royalty.
Gold Royalty files to sell 9.39M shares of common stock for holders 17:0609/2709/27/22
Gold Royalty reports June quarter adjusted EPS (2c), consensus (2c) » 16:2108/1508/15/22
Reports June quarter…
Reports June quarter revenue $1.9M.
Gold Royalty initiated with a Market Perform at Raymond James » 07:4907/2507/25/22
Raymond James analyst…
Raymond James analyst Brian MacArthur initiated coverage of Gold Royalty with a Market Perform rating and $3.75 price target. MacArthur likes Gold Royalty's high margin business model, longer-term growth optionality, jurisdictional profile, relative share liquidity, and dividend, but cites current valuation and lower near-term cash flow for the Market Perform rating.
Gold Royalty receives initial royalty payments on Newmont's Borden Mine » 07:1907/0507/05/22
Gold Royalty announces…
Gold Royalty announces that it has begun to receive royalty payments related to its Borden Lake net smelter return royalty over Newmont Corporation's producing Borden Mine located in Ontario, Canada. Ely Gold Royalties, a subsidiary of Gold Royalty, originally purchased the Royalty on May 6, 2020. The Royalty included a five kilometer area of interest with a 0.50% NSR on certain claims within the AOI. It has now been confirmed that mining at the Borden Mine is occurring on the AOI Claims and therefore Newmont has begun making royalty payments under the AOI Royalty. Gold Royalty has received approximately $1.4M in royalty back payments. David Garofalo, Chairman and CEO of Gold Royalty commented: "Borden brings another high-quality cash flowing asset into our portfolio. Along with the expected start of production at Beaufor this month, we will have eight royalties on producing assets and twenty assets in development supporting our industry leading revenue growth profile. As the former CEO of Goldcorp, I recall our team developing Borden as a next generation, environmentally friendly mine, and I am excited for Gold Royalty to now be a part of this asset as a royalty holder."