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Gold Royalty Corp. Reports Record Revenues for 2024

Gold Royalty Corp. has recently released its operating and financial results for the fourth quarter and full year ended December 31, 2024, marking a period of significant achievement for the company. With total revenues hitting record highs and robust cash flows, Gold Royalty is positioned for continued success well into 2025 and beyond.

Fourth Quarter Highlights

In the fourth quarter of 2024, Gold Royalty reported a remarkable revenue of $3.4 million, while the total revenue, including land agreement proceeds and interest, amounted to $3.8 million. The company produced 1,445 Gold Equivalent Ounces (GEOs) in this quarter, resulting in positive operating cash flow of $1.3 million and an adjusted EBITDA of $1.2 million. This financial performance highlights the company's effective management and operational strategies, propelling its position in the market.

Full Year Results

For the entirety of 2024, Gold Royalty achieved record revenue of $10.1 million, demonstrating a significant increase compared to previous years. The total revenue for the year, inclusive of land agreement proceeds and interest, stood at $12.8 million. An impressive total of 5,462 GEOs were produced throughout the year, supported by positive operating cash flow reaching $2.5 million and an adjusted EBITDA of $4.8 million.

Key Growth Drivers

1. Acquisitions Leading to Long-term Growth: CEO David Garofalo emphasized that the company’s growth trajectory is bolstered by strategic acquisitions. These acquisitions have successfully secured royalty agreements on large-scale, long-life mining projects that are in varying stages of development and production.

2. Positive Production Outlook: Looking forward to 2025, Gold Royalty anticipates GEOs will increase to between 5,700 and 7,000. This represents a 16% increase from 2024 levels, driven by the ramp-up of three of its key cash-flowing assets. The company projects a staggering growth rate of over 360% in the next five years, with GEOs expected to rise to between 23,000 and 28,000 by 2029.

Strong Financial Position

Gold Royalty's financial health continues to improve due to anticipated cash flow generation, low operating costs, and enhanced credit terms recently established. The firm prioritizes disciplined capital allocation, focusing on debt repayment while preparing to seize growth opportunities as they arise. This strategic focus solidifies the company’s infrastructure for sustainable long-term growth.

Portfolio Highlights

1. Borborema Project: This key project is slated for completion in the first quarter of 2025, with expected production between 33,000 to 40,000 ounces of gold this year.
2. Côté Gold Mine: This mine has started operations, with the company’s goal to achieve full mill capacity by the end of the year.
3. Other Notable Assets: The Borden mine and Canadian Malartic / Odyssey mine are among several properties expected to contribute significantly to Gold Royalty's revenue streams.

Conclusion

Gold Royalty Corp. exemplifies a strategic player in the gold royalty space, with a clear focus on sustainable growth and profitability. As they continue to expand their production capabilities and explore new opportunities in mining, stakeholders can look forward to a promising future. A conference call is scheduled for March 20, 2025, to discuss these results in greater detail.

For further information regarding project updates and future forecasts, please refer to the company’s announcements available on their official website and through publicly filed documents.

About Gold Royalty Corp.

Gold Royalty Corp. focuses on developing a diversified portfolio within the mining sector, aiming to generate robust long-term returns for its shareholders by investing in sustainable mining operations across the Americas.