Gold Royalty Corp Stock Price, News & Analysis

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.

Gold Royalty Corp. (NYSE American: GROY) reported strong second quarter 2024 revenue, with a 298% increase in Total Revenue, Land Agreement Proceeds and Interest to $2.2 million compared to the same period in 2023. The company's revenue growth was driven by cornerstone royalties, recent acquisitions, and its royalty generator model. Key highlights include:

- First royalty payment from IAMGOLD's Côté Gold Mine
- Continued benefits from existing cash-flowing royalties
- $0.4 million in land agreement proceeds from the royalty generator model
- On track to meet 2024 forecast of 6,500-7,000 GEOs ($13-14 million in Total Revenue)
- Expected growth in second half of 2024 due to strong commodity prices and new projects

GoldMining announced positive assay results from its São Jorge Project in Brazil. The completed diamond core drilling program, spanning 1,077 meters, revealed significant findings from two holes: SJD-122-24, which showed 19 meters grading 1.24 g/t gold, including 7 meters at 2.98 g/t gold, and SJD-121-24, which showed 18 meters grading 0.70 g/t gold, including 8 meters at 1.14 g/t gold. The drilling aims to confirm and explore new mineralization zones, bolstering resource confidence and potentially leading to new gold discoveries. São Jorge, located in the Tapajós gold district, benefits from its proximity to infrastructure and historical gold production.

GoldMining has announced positive assay results from the first drill hole of its São Jorge Project in Brazil. The drilling program aims to confirm high-grade mineralization and improve resource estimates. Highlights include a 163m interval grading 1.02 g/t gold, with notable intersections of 37m at 2.26 g/t gold and 20m at 1.37 g/t gold. The project is strategically located in the Tapajós Gold District, near existing infrastructure. The results are expected to enhance the geological model and future resource estimations.

GoldMining has announced promising preliminary results from the geophysical survey reprocessing of its Rea uranium project in the Western Athabasca Basin. The Company, which owns 75% of the project, has identified over 70 km of prospective trends within three distinct corridors. The project encompasses approximately 125,328 hectares and surrounds Orano Canada's Dragon Lake prospect. Notable findings include anomalous uranium values and pathfinder elements in multiple drill holes across the Maybelle River, Net Lake, and Keane Lake corridors. CEO Alastair Still emphasized the cost-efficiency and strategic relevance of this work towards unlocking shareholder value. Future exploration will focus on refining targets for drilling.

Gold Royalty Corp. (NYSE American: GROY) published its 2023 Sustainability Report and 2024 Asset Handbook, highlighting significant growth and sustainability milestones. CEO David Garofalo noted the company's transformation due to recent acquisitions and a firm commitment to responsible resource development. Key achievements include a $300,000 sustainability-linked contribution to the Borborema mine, maintaining one of the lowest carbon intensities in the sector at 0.25 T CO2E/GEO, and extensive ESG due diligence. The 2024 Asset Handbook outlines a robust royalty portfolio, enhanced by acquisitions in Borborema, Cozamin, and Québec, with over 80 operating partners and 240 royalties. An investor day webcast is scheduled for June 12, 2024.

Gold Royalty Corp. (NYSE American: GROY) has successfully completed the acquisition of a copper stream on the Vares Silver Project in Bosnia and Herzegovina, managed by Adriatic Metals plc. The deal, worth $50 million, was finalized with a payment of $45 million in cash and the issuance of nearly 2.91 million common shares to OMF Fund III (Cr) , a subsidiary of Orion Mine Finance Management LP. This acquisition is expected to enhance Gold Royalty's free cash flow and strengthen its portfolio of long-life, low-cost mining royalties. Additionally, Gold Royalty has expanded its secured revolving credit facility by $5 million, totaling $30 million, with an extra $5 million available under certain conditions.

Gold Royalty Corp (NYSE American: GROY) has updated its 2024 guidance, projecting a 27% increase in total revenues due to the acquisition of a copper stream in the Vares Silver Project in Bosnia and Herzegovina. The company foresees revenue between $13.0 million and $14.0 million, driven by an expected production of 6,500 to 7,000 Gold Equivalent Ounces (GEOs). This update is based on an assumed gold price of $2,000 per ounce and a copper price of $4.25 per pound. The latest projection marks a 160% increase in revenue from 2023. The acquisition is expected to enhance Gold Royalty's cash flow profile. The management will discuss the acquisition's impact in an investor webcast on June 4, 2024. CEO David Garofalo emphasizes the strategic value of the Vares Stream, contributing significantly to the company's portfolio and cash flow growth.