AEM:CC - Gold Royalty Corp: A Stronger H2 On Deck
2024-07-07 12:36:51 ET
Summary
- Gold Royalty Corp. reported strong revenue growth in Q1 and its first quarter of positive operating cash flow.
- Meanwhile, the company completed a significant acquisition in Q2 that will significantly boost near-term cash flow with attributable production from the Vares polymetallic mine in Bosnia.
- In this update we'll dig into the Q1 results, recent developments, and where the stock's updated low-risk buy zone lies.
All figures are in United States Dollars unless otherwise stated. G/T refers to grams per tonne of gold or silver. AISC refers to all-in-sustaining costs. GEOs refer to gold-equivalent ounces.
Q1 Results
Gold Royalty Corp ["GRC"] (GROY) released its Q1 results in mid-May, reporting royalty revenue of ~$2.9 million (289% growth year-over-year), total revenue, land agreement proceeds and interest of ~$4.19 million, and ~$0.33 million in operating cash flow. These represented records for the company and were helped by new royalty revenue from Cozamin, increased royalty revenue from Borden and Canadian Malartic, partially offset by no contribution from Jerritt Canyon (moved into care & maintenance in Q2 2023) and reduced contribution at Isabella Pearl which is nearing the end of its mine life (expectations are that Isabella Pearl will be fully mined out by year-end). ...
Gold Royalty Corp: A Stronger H2 On Deck