Prnewswire·2025-11-06 01:59Core Insights - Gold Royalty Corp. reported record revenue for the third quarter of 2025, driven by new mines entering production and positive cash flow [2][9] - The company has successfully reduced debt and interest costs while strengthening its balance sheet, with plans to continue de-leveraging through 2026 [2][9] Financial Performance - For the three months ended September 30, 2025, revenue reached $4.148 million, a significant increase from $2.060 million in the same period of 2024, representing a growth of 101.4% [6] - Net loss for the third quarter was $1.133 million, compared to a net income of $3.423 million in Q3 2024 [6] - Adjusted EBITDA for the quarter was $2.517 million, up from $779 thousand in Q3 2024, indicating a strong operational performance [6][9] - Total Revenue, Land Agreement Proceeds, and Interest amounted to $4.573 million for Q3 2025, compared to $2.601 million in Q3 2024, marking a 75.6% increase [6][9] Operational Highlights - The company reported production of 1,323 gold equivalent ounces (GEOs) in Q3 2025, an increase from 1,051 GEOs in Q3 2024 [6][41] - Cash provided by operating activities was $2.438 million for the quarter, a significant improvement from a cash usage of $42 thousand in Q3 2024 [6] - The company repaid $2 million to its revolving credit facility in Q3 and an additional $5 million post-quarter, demonstrating responsible capital allocation [9] Portfolio Updates - The Borborema project achieved commercial production in Q3 2025, contributing to the company's revenue growth [11] - The Côté Gold mine produced 106,000 ounces in Q3 2025, continuing its strong performance with expected cash costs of $1,100-$1,200 per ounce [14] - The Canadian Malartic / Odyssey mine is progressing ahead of schedule, with initial production expected in the second half of 2026 [13] Future Outlook - The company plans to continue leveraging cash generated from operations to reduce debt throughout 2026 [2][9] - The royalty generator model has added two new royalties in the nine months ended September 30, 2025, contributing to a total of 51 royalties since the acquisition of Ely Gold Royalties Inc. [22][23]