Gold Royalty Reports Record Quarterly and Year-To-Date Revenue

Core Insights - Gold Royalty Corp. reported record revenue for Q3 2025, with total revenue, land agreement proceeds, and interest increasing by approximately 76% to $4.6 million compared to Q3 2024, equating to 1,323 gold equivalent ounces (GEOs) [2][3] - For the first nine months of 2025, total revenue reached a record $12.6 million, a 40% increase from the same period in 2024, equating to 3,918 GEOs [2][3] Financial Performance - The company achieved total revenue of $4.573 million for Q3 2025, up from $2.601 million in Q3 2024, with revenue of $4.148 million compared to $2.060 million in the same period [11][12] - For the nine months ended September 30, 2025, total revenue was $12.562 million, compared to $9.001 million in the same period of 2024 [11][12] Operational Highlights - The strong cash flows were driven by the performance of royalty interests in Borden, Borborema, Côté, and Cozamin, alongside an improving gold price [3] - The company expects total GEOs for 2025 to be around or modestly below the bottom of the guidance range of 5,700 - 7,000 ounces due to the transition of the Vareš mine to new ownership [3] Future Outlook - Gold Royalty anticipates record-level cash flows in 2025, supported by an improved gold price and exposure to net smelter return royalties, which have no costs associated with higher gold prices [3] - The company aims to be essentially debt-free by the end of 2026, aided by positive free cash flow [3]