Gold Royalty Corp Stock Price, News & Analysis

GoldMining Inc (TSX: GOLD) (NYSE: GLDG) has announced changes to its Board of Directors. Garnet Dawson and The Hon. Herb Dhaliwal have retired from the company's board after serving for more than ten years each. Dawson, who joined as CEO in 2014 until 2021 and became a board member in 2018, and Dhaliwal, who joined the board in 2013, will continue to contribute to the company as strategic advisors on GoldMining's advisory board.

GoldMining Inc (TSX: GOLD) (NYSE: GLDG) has renewed its at-the-market equity program (ATM Program), allowing the distribution of up to US$50 million worth of common shares. The shares will be sold at prevailing market prices through a syndicate of agents led by BMO Nesbitt Burns Inc. and BMO Capital Markets Corp.

The proceeds will fund exploration and development of mineral properties, complete minimum work programs, maintain property rights, fund future acquisitions, and provide working capital. The program will be effective until December 24, 2025, or until the aggregate gross sales reach US$50 million. This ATM Program replaces the previous one that expires on December 31, 2024.

GoldMining reports additional high-grade drilling results at its 100% owned São Jorge Project in Brazil. The 2024 auger drilling program identified several new gold-in-bedrock targets, with peak assays exceeding expectations. Highlight intercepts include 1 meter at 10.2 g/t Au from 14m depth, 5m at 2.78 g/t Au from 10m depth, and 3m at 1.05 g/t Au from 12m depth. Only 13% of the broad gold-in-soil anomalies across the project have been tested to date. The company plans further drilling in 2025 to delineate additional targets and potentially discover new gold resources. The São Jorge property, located in the Tapajós gold district, covers 45,997 hectares and has significant exploration potential. The project benefits from nearby infrastructure, including a paved highway and a new powerline corridor.

Gold Royalty Corp (NYSE: GROY) reported record revenues for Q3 2024, with a 160% increase in revenue to $2.06 million compared to Q3 2023. The company achieved positive net income of $3.42 million ($0.02 per share) in Q3 2024, compared to a net loss of $1.82 million in Q3 2023. For the first nine months of 2024, total revenue reached $6.75 million. The company reaffirmed its 2024 guidance of $13-14 million in Total Revenue, Land Agreement Proceeds and Interest, expecting to benefit from the Vares Mine and Côté Gold Mine reaching full capacity by year-end. The royalty generator model added $0.4 million in land agreement proceeds during Q3.

Gold Royalty Corp (NYSE: GROY) reported significant growth in Q3 2024, with revenue increasing approximately 160% and Total Revenue, Land Agreement Proceeds and Interest rising 90% to $2.6 million compared to Q3 2023. The company achieved record nine-month revenues of $9.0 million for 2024, representing a 130% increase year-over-year. Strong performance was driven by cash-flowing royalties from Canadian Malartic, Côté, Borborema, and Cozamin mines.

The Côté Gold Mine continues its successful ramp-up, achieving a record daily throughput of 40,900 tpd, 14% above nameplate capacity. The company maintains its 2024 guidance of 6,500-7,000 GEOs, equivalent to $13-14 million in forecasted Total Revenue.

GoldMining's subsidiary, U.S. GoldMining, has updated its Mineral Resource Estimate (MRE) for the Whistler Gold-Copper Project in Alaska. Key highlights include:

• Indicated Mineral Resource: 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq.
• Inferred Mineral Resource: 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq.
• The indicated category has increased by 117% compared to the 2022 MRE.
• The updated Whistler MRE includes 2023 drilling data and excludes recent 2024 assays.
• U.S. GoldMining has concluded its 2024 drilling program, achieving 4,006 meters in 6 holes.

The Whistler MRE is constrained by conceptual pit design shells and includes three deposits: Whistler, Raintree, and Island Mountain, covering only 1% of U.S. GoldMining's land holdings. The company is exploring additional targets within the 'Whistler Orbit'.

GoldMining has announced promising results from their diamond and auger drilling programs at the São Jorge Project in Brazil's Tapajós gold district.

Key discoveries include:

• Diamond drilling: New gold and copper mineralization found 1 km from the main São Jorge deposit.
• Notable assay results: Drill hole SJD-123-24 yielded 10 m at 0.66 g/t gold, including 2 m at 1.65 g/t gold; SJD-124-24 returned 28 m at 275 ppm (0.0275%) copper.
• Auger drilling: Indicated new gold zones at the William South target, 2 km north of the deposit, with high-grade results such as 1 m at 17.14 g/t gold from 12 m depth.

These findings suggest potential for significant gold and copper mineralization in previously unexplored areas, supporting the hypothesis of an extensive high-strain corridor.

Gold Royalty Corp. (NYSE American: GROY) reported its Q2 2024 results, highlighting continued growth in operating cash flow. Key points include:

- Revenue increased 300% year-over-year to $1.8 million

- Positive operating cash flow of $1.0 million for the second consecutive quarter

- On track to achieve annual guidance of 6,500-7,000 GEOs ($13-14 million in Total Revenue)

- Completed acquisition of Vares Copper Stream for $50 million

- Published second annual Asset Handbook and Sustainability Report

The company's portfolio saw significant developments, including commercial production at IAMGOLD's Côté Gold Mine and progress at Adriatic Metals' Vares Silver Project. Gold Royalty expects further growth in H2 2024 with the ramp-up of key assets.

Uranium Energy Corp (NYSE American: UEC) has announced a succession plan for its Chief Financial Officer position. Josephine Man will be joining the company and succeeding Pat Obara as Treasurer and CFO, effective October 1, 2024. Obara, who has been with UEC since 2006, will transition to the role of Senior Vice-President, Administration after filing the company's Annual Report on Form 10-K for the current fiscal year.

CEO Amir Adnani praised Obara's 18-year contribution to UEC and expressed excitement about Man's appointment, citing her strong financial background and experience as valuable assets for the company's plans to ramp up operations and move into commercial production. Man brings extensive experience in financial reporting, corporate finance, M&A, and risk management, having previously served as CFO for Uranium Royalty Corp and Gold Royalty Corp.