Gold Royalty Announces Strong Quarterly Revenue Growth and Record Revenues for the First Nine Months of 2024

Core Insights - Gold Royalty Corp. reported a significant increase in revenue for the third quarter of 2024, with total revenue rising by approximately 160% and total revenue, land agreement proceeds, and interest increasing by 90% compared to the same period in 2023 [1][2] - The company anticipates further revenue growth in the fourth quarter of 2024 due to recent strategic acquisitions [1] Financial Performance - Total revenue for the third quarter of 2024 reached $2.6 million, with revenue of$ 2.1 million, equating to 1,051 gold equivalent ounces (GEOs) [2] - For the first nine months of 2024, total revenue, land agreement proceeds, and interest increased by over 130% to a record $9.0 million, equating to 4,017 GEOs [2] Operational Highlights - Revenue from the Côté Gold Mine, operated by IAMGOLD Corporation, increased as the mine ramped up production, achieving a record daily throughput of 40,900 tonnes per day, which is 14% above nameplate capacity [3] - The company expects to receive its first revenue from the copper stream over the Vares Mine in the fourth quarter as the asset ramps up to achieve nameplate capacity [3] - Gold Royalty remains on track to meet its guidance for 2024, projecting between 6,500 and 7,000 GEOs, translating to approximately$ 13 million to $14 million in forecasted total revenue, land agreement proceeds, and interest [3] Upcoming Events - Gold Royalty will release its quarterly financial and operating results for the three and nine months ended September 30, 2024, on November 4, 2024, after market close [5] - A conference call to discuss these results is scheduled for November 5, 2024 [5] Company Overview - Gold Royalty Corp. is focused on providing creative financing solutions to the metals and mining industry, aiming to build a diversified portfolio of precious metals royalty and streaming interests [6]