Announcement • 21h
Gold Royalty Corp. to Report Q2, 2026 Results on Aug 05, 2026 Gold Royalty Corp. announced that they will report Q2, 2026 results After-Market on Aug 05, 2026 Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Independent Director Angela Johnson was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 28
Gold Royalty Reiterates Its 2026 Full-Year Production Guidance Gold Royalty maintained its 2026 full-year production guidance. The company reiterated production guidance of 7,500 - 9,300 GEOs as released on March 18, 2026, with production more heavily weighted to the second half as DPM Metals' Vareš mine production is expected to reach its full run rate of 850,000 tonnes per year in 2026 and as Fortitude Gold's County Line mine ramps up after commencing operations in January. Announcement • Apr 27
Gold Royalty Corp. to Report Q1, 2026 Results on May 06, 2026 Gold Royalty Corp. announced that they will report Q1, 2026 results After-Market on May 06, 2026 Announcement • Mar 20
Gold Royalty Corp. Provides Production Guidance for the Fiscal Year 2026 Gold Royalty Corp. provided production guidance for the fiscal year 2026. Total gold equivalent ounces (GEOs) are currently expected to increase to 7,500-9,300 in 2026, due to the continued ramp-up of cash flowing assets and incorporates the addition of the Pedra Branca and an additional royalty on Borborema in late 2025 and early 2026, respectively. This outlook represents a mid-point increase of over 60% from 2025 results. Announcement • Feb 17
Gold Royalty Corp., Annual General Meeting, Apr 20, 2026 Gold Royalty Corp., Annual General Meeting, Apr 20, 2026. Announcement • Jan 22
Gold Royalty Corp. to Report Q4, 2025 Results on Mar 18, 2026 Gold Royalty Corp. announced that they will report Q4, 2025 results After-Market on Mar 18, 2026 Announcement • Dec 11
Gold Royalty Corp. has completed a Follow-on Equity Offering in the amount of $90 million. Gold Royalty Corp. has completed a Follow-on Equity Offering in the amount of $90 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 22,500,000
Price\Range: $4
Discount Per Security: $0.18 Announcement • Dec 08
Gold Royalty Corp. has filed a Follow-on Equity Offering. Gold Royalty Corp. has filed a Follow-on Equity Offering.
Security Name: Common Shares
Security Type: Common Stock Announcement • Oct 24
Gold Royalty Corp. to Report Q3, 2025 Results on Nov 05, 2025 Gold Royalty Corp. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Announcement • Jul 25
Gold Royalty Corp. to Report Q2, 2025 Results on Aug 06, 2025 Gold Royalty Corp. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 06, 2025 Announcement • May 19
Gold Royalty Corp., Annual General Meeting, Jun 16, 2025 Gold Royalty Corp., Annual General Meeting, Jun 16, 2025. Location: 1000 cathedral place, 925 west georgia street, british columbia, canada, vancouver Canada Announcement • Apr 25
Gold Royalty Maintains Production Guidance for Full Year 2025 Gold Royalty maintains production guidance for full year 2025. For the year, the company continues to expect 5,700 - 7,000 GEOs as released on March 20, 2025, and expects that production will be more heavily weighted to the second half of the year as recently-started mining operations including Côté, Vareš, and Borborema continue to ramp up towards full production run rates through 2025. Announcement • Apr 24
Gold Royalty Corp. to Report Q1, 2025 Results on May 07, 2025 Gold Royalty Corp. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 07, 2025 Announcement • Mar 20
Gold Royalty Corp. Provides Operating Guidance for the Fiscal Year 2025 Gold Royalty Corp. provided operating guidance for the fiscal year 2025. for the year, the company's Total Gold Equivalent Ounces are currently expected to increase to 5,700-7,000. This outlook represents an increase of approximately 16% from 2024. Announcement • Jan 30
Gold Royalty Corp. to Report Q4, 2024 Results on Mar 19, 2025 Gold Royalty Corp. announced that they will report Q4, 2024 results After-Market on Mar 19, 2025 Breakeven Date Change • Dec 30
Forecast breakeven date moved forward to 2024 The 5 analysts covering Gold Royalty previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$500.0k in 2024. Earnings growth of 172% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 06
Forecast breakeven date moved forward to 2024 The 5 analysts covering Gold Royalty previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of US$500.0k in 2024. Earnings growth of 172% is required to achieve expected profit on schedule. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: US$0.02 (vs US$0.013 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.02 (up from US$0.013 loss in 3Q 2023). Net income: US$3.42m (up US$5.24m from 3Q 2023). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Oct 24
Gold Royalty Corp. to Report Q3, 2024 Results on Nov 04, 2024 Gold Royalty Corp. announced that they will report Q3, 2024 results After-Market on Nov 04, 2024 Buy Or Sell Opportunity • Oct 02
Now 21% overvalued Over the last 90 days, the stock has fallen 3.1% to €1.25. The fair value is estimated to be €1.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 45%. New Risk • Sep 27
New major risk - Revenue and earnings growth Earnings have declined by 22% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$76m). Share price has been volatile over the past 3 months (7.3% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Buy Or Sell Opportunity • Sep 13
Now 23% overvalued Over the last 90 days, the stock has fallen 17% to €1.13. The fair value is estimated to be €0.92, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 170% in a year. Earnings are forecast to grow by 93% in the next year. Buy Or Sell Opportunity • Aug 20
Now 21% overvalued Over the last 90 days, the stock has fallen 29% to €1.28. The fair value is estimated to be €1.05, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 170% in a year. Earnings are forecast to grow by 93% in the next year. Breakeven Date Change • Aug 15
No longer forecast to breakeven The 5 analysts covering Gold Royalty no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$200.0k in 2025. New consensus forecast suggests the company will make a loss of US$300.0k in 2025. Breakeven Date Change • Jul 22
Forecast to breakeven in 2025 The 4 analysts covering Gold Royalty expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 95% to 2024. The company is expected to make a profit of US$200.0k in 2025. Average annual earnings growth of 155% is required to achieve expected profit on schedule. Announcement • Jul 22
Gold Royalty Corp. to Report Q2, 2024 Results on Aug 13, 2024 Gold Royalty Corp. announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Announcement • Jun 06
Gold Royalty Corp. (NYSEAM:GROY) completed the acquisition of copper stream on the Vares Silver Project from OMF Fund III (CR) Ltd managed by Orion Resource Partners (USA), L.P. Gold Royalty Corp. (NYSEAM:GROY) entered into a binding purchase and sale agreement to acquire copper stream on the Vares Silver Project from OMF Fund III (CR) Ltd managed by Orion Resource Partners (USA), L.P. for $50.6 million on May 28, 2024. The consideration consists of $45 million in cash and $5 million in common equity for 2.906977 million shares of Gold Royalty Corp. As part of the consideration, $50 million was paid towards assets. Gold Royalty Corp expects to fund the acquisition by means of its announced equity offering and borrowings under its revolving credit facility. As amended, the expanded credit facility will consist of a $30 million secured revolving credit facility with an accordion feature providing for an additional $5 million of availability subject to certain conditions. As of May 31, 2024, Gold Royalty Corp. announced closing of its previously announced public offering of units of the Gold Royalty Corp. Pursuant to the Offering, the Gold Royalty Corp. issued, on a bought deal basis, 20,058,300 Units, including 2,616,300 Units pursuant to the full exercise of the over-allotment option, at a price of $1.72 per Unit for aggregate gross proceeds of $34,500,276. The Offering was completed pursuant to an underwriting agreement dated May 28, 2024, between the Company and a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets Corp. as joint bookrunners, and including H.C. Wainwright & Co., LLC, Haywood Securities Inc., Raymond James Ltd. and Scotia Capital Inc. Transaction is materially accretive to Gold Royalty’s cash flow.
Gold Royalty Corp. (NYSEAM:GROY) completed the acquisition of copper stream on the Vares Silver Project from OMF Fund III (CR) Ltd managed by Orion Resource Partners (USA), L.P. on June 4, 2024. The Vares Stream applies to 100% of copper production from the mining area over the Rupice deposit at the Vares Silver Project operated by a subsidiary of Adriatic Metals plc located in Bosnia and Herzegovina. The Vares Stream has associated ongoing payments equal to 30% of the LME spot copper price, with the effective payable copper fixed at 24.5%. The Acquisition was completed pursuant to a purchase and sale agreement dated May 28, 2024, between the Company and OMF, an entity managed by Orion Mine Finance Management LP. Buy Or Sell Opportunity • Jun 03
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to €1.50. The fair value is estimated to be €1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last year. Earnings per share has declined by 80%. Revenue is forecast to grow by 210% in a year. Earnings are forecast to grow by 95% in the next year. Recent Insider Transactions • Jun 03
Lead Independent Director recently bought €922k worth of stock On the 31st of May, Warren Philip Gilman bought around 581k shares on-market at roughly €1.59 per share. This transaction amounted to 83% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €873k more in shares than they have sold in the last 12 months. Announcement • May 29
Gold Royalty Corp. has completed a Composite Units Offering in the amount of $30.00024 million. Gold Royalty Corp. has completed a Composite Units Offering in the amount of $30.00024 million.
Security Name: Units
Security Type: Debt/Derivative Unit
Securities Offered: 17,442,000
Price\Range: $1.72
Discount Per Security: $0.086 New Risk • May 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$33m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$33m free cash flow). Earnings have declined by 21% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). New Risk • May 16
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$33m). Share price has been volatile over the past 3 months (9.7% average weekly change). New Risk • May 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$25m Forecast net loss in 1 year: US$1.4m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$33m). Currently unprofitable and not forecast to become profitable next year (US$1.4m net loss next year). Share price has been volatile over the past 3 months (9.8% average weekly change). Significant insider selling over the past 3 months (€53k sold). Reported Earnings • May 14
First quarter 2024 earnings released: US$0.01 loss per share (vs US$0.021 loss in 1Q 2023) First quarter 2024 results: US$0.01 loss per share (improved from US$0.021 loss in 1Q 2023). Net loss: US$1.41m (loss narrowed 54% from 1Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Metals and Mining industry in Europe. Breakeven Date Change • Apr 28
Forecast breakeven date pushed back to 2026 The 5 analysts covering Gold Royalty previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 61% per year to 2025. The company is expected to make a profit of US$5.90m in 2026. Average annual earnings growth of 84% is required to achieve expected profit on schedule. Announcement • Apr 24
Gold Royalty Corp., Annual General Meeting, Jun 11, 2024 Gold Royalty Corp., Annual General Meeting, Jun 11, 2024. New Risk • Apr 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$36m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$36m free cash flow). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Significant insider selling over the past 3 months (€167k sold). Revenue is less than US$5m (US$3.0m revenue). Announcement • Mar 29
Gold Royalty Corp. Provides Revenue Guidance for the Year 2024 Gold Royalty Corp. provided revenue guidance for the year 2024. The Company currently forecasts between approximately 5,000 and 5,600 GEOs in 2024 which equates to approximately $10.0 million to $11.2 million in Total Revenue, Land Agreement Proceeds and Interest at a gold price of $2,000 per ounce. Reported Earnings • Mar 28
Full year 2023 earnings released: US$0.18 loss per share (vs US$0.061 loss in FY 2022) Full year 2023 results: US$0.18 loss per share (further deteriorated from US$0.061 loss in FY 2022). Net loss: US$26.8m (loss widened 204% from FY 2022). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Europe. Announcement • Feb 24
Gold Royalty Corp. to Report Q4, 2023 Results on Mar 28, 2024 Gold Royalty Corp. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 28, 2024 Recent Insider Transactions • Feb 16
Director recently sold €51k worth of stock On the 12th of February, Glenn Mullan sold around 38k shares on-market at roughly €1.37 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €91k. Insiders have been net sellers, collectively disposing of €228k more than they bought in the last 12 months. New Risk • Dec 27
New major risk - Revenue and earnings growth Revenue has declined by 76% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue has declined by 76% over the past year. Revenue is less than US$1m (US$949k revenue). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Significant insider selling over the past 3 months (€168k sold). Announcement • Dec 22
Gold Royalty Corp. (NYSEAM:GROY) completed the acquisition of a Portfolio of 22 royalties located in Québec from SOQUEM Inc. Gold Royalty Corp. (NYSEAM:GROY) entered into an agreement to acquire a Portfolio of 22 royalties located in Québec from SOQUEM Inc. for CAD 1 million on November 2, 2023. The consideration was satisfied through the issuance of 496,785 common shares to SOQUEM.
Gold Royalty Corp. (NYSEAM:GROY) completed the acquisition of a Portfolio of 22 royalties located in Québec from SOQUEM Inc. on December 21, 2023. Recent Insider Transactions • Dec 21
Director recently sold €91k worth of stock On the 15th of December, Glenn Mullan sold around 66k shares on-market at roughly €1.39 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €182k more than they bought in the last 12 months. Announcement • Dec 20
Gold Royalty Corp. announced that it has received $40 million in funding from Queen's Road Capital Investment Ltd. On December 19, 2023, Gold Royalty Corp. closed the transaction. Recent Insider Transactions • Dec 13
Independent Director recently bought €69k worth of stock On the 8th of December, Alan T. Hair bought around 50k shares on-market at roughly €1.39 per share. This transaction increased Alan T.'s direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €91k more in shares than they bought in the last 12 months. Breakeven Date Change • Dec 08
No longer forecast to breakeven The 6 analysts covering Gold Royalty no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$500.0k in 2025. New consensus forecast suggests the company will make a loss of US$6.30m in 2025. Announcement • Dec 07
Gold Royalty Corp. announced that it expects to receive $40 million in funding from Queen's Road Capital Investment Ltd. and another investor Gold Royalty Corp. announces private placement of 10% Unsecured Convertible Debentures for gross proceeds of $40,000,000 on December 5, 2023.The Debentures will be unsecured and carry a 10% coupon (the "Interest") over a 5-year term, of which 70% (equal to 7% per annum) is payable in cash and 30% (equal to 3% per annum) is payable in Common Shares issuable at a price equal to the 20-day volume-weighted average trading price ("VWAP") calculated at each interest payment date. The Debentures will be convertible at the holder's option into Common Shares at a conversion price of $1.90, equal to a 30% premium to the 20-day VWAP at the date of this announcement. The Offering is subject to the satisfaction of customary closing conditions, including, among other things, receipt of applicable stock exchange approval and the absence of certain material adverse changes. The transaction included participation from Queen's Road Capital Investment Ltd. for $30,000,000 and by Taurus Mining Royalty Fund L.P for $10,000,000 of debentures. The Company will be entitled to redeem the Debentures at par within a period of fourteen days from the third anniversary of the date of the issuance of the Debentures. Should the Company exercise its right to redeem the Debentures during this period, the holders are entitled to convert all of the outstanding Debentures into Common Shares at a conversion price of $1.75, equal to a 20% premium to the 20-day VWAP at the date of this announcement. New Risk • Nov 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue is less than US$1m (US$949k revenue). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$7.3m net loss next year). Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Nov 19
Third quarter 2023 earnings released: US$0.013 loss per share (vs US$0.035 loss in 3Q 2022) Third quarter 2023 results: US$0.013 loss per share (improved from US$0.035 loss in 3Q 2022). Net loss: US$1.82m (loss narrowed 61% from 3Q 2022). Revenue is forecast to grow 48% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Announcement • Nov 17
Gold Royalty Corp. Provides Production Guidance Management currently believes Gold Royalty Corp. is on track to meet its previously disclosed forecast of $5.5 million and $6.5 million in Total Revenue and Land Agreement Proceeds in 2023 based on the production guidance published to date by the operators of the properties underlying the Company's interests, a forecasted gold price ranging from $1,700 to $2,000 per ounce and expected payments from land. New Risk • Nov 16
New major risk - Revenue and earnings growth Revenue has declined by 3.8% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue has declined by 3.8% over the past year. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$12m). Revenue is less than US$5m (US$2.6m revenue). Announcement • Oct 18
Gold Royalty Corp. to Report Q3, 2023 Results on Nov 14, 2023 Gold Royalty Corp. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Board Change • Aug 21
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Lead Independent Director Warren Philip Gilman is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Aug 13
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$12m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$12m). Currently unprofitable and not forecast to become profitable over next 2 years (US$2.6m net loss in 2 years). Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Significant insider selling over the past 3 months (€235k sold). Revenue is less than US$5m (US$2.6m revenue). Announcement • Aug 12
Gold Royalty Corp. Maintains Earnings Guidance for the Year 2023 Gold Royalty Corp. maintained earnings guidance for the year 2023. The company has maintained its revenue guidance for the full year and expects to substantially recover the delayed revenue from gold production in the second half of 2023. Management currently believes the company is on track to meet its previously disclosed forecast of $5.5 million and $6.5 million in total revenues and land agreement proceeds in 2023 based on the production guidance published to date by the operators of the properties underlying the Company's interests, a forecasted gold price ranging from $1,700 to $2,000 per ounce and expected payments from land agreements. Reported Earnings • Aug 11
Third quarter 2023 earnings released: US$0.017 loss per share (vs US$0.026 loss in 3Q 2022) Third quarter 2023 results: US$0.017 loss per share (improved from US$0.026 loss in 3Q 2022). Net loss: US$2.50m (loss narrowed 27% from 3Q 2022). Revenue is forecast to grow 42% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. New Risk • Jun 12
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €107k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 232% Minor Risks Shareholders have been diluted in the past year (7.5% increase in shares outstanding). Significant insider selling over the past 3 months (€107k sold). Revenue is less than US$5m (US$2.5m revenue). Recent Insider Transactions • Jun 11
Director recently sold €57k worth of stock On the 7th of June, Glenn Mullan sold around 31k shares on-market at roughly €1.84 per share. This transaction amounted to 1.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €114k more than they sold in the last 12 months. Upcoming Dividend • Jun 09
Upcoming dividend of US$0.01 per share at 2.0% yield Eligible shareholders must have bought the stock before 16 June 2023. Payment date: 30 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (8.7%). Announcement • May 25
Gold Royalty Corp. Declares Cash Dividend for Second Quarter 2023, Payable on June 30, 2023 Gold Royalty Corp. announced that its board of directors has declared the Company’s second quarter 2023 cash dividend of USD 0.01 per common share. The dividend will be paid on June 30, 2023 to shareholders of record as of the close of business on June 20, 2023. Announcement • May 12
Gold Royalty Corp. Provides Revenue Guidance for the Year 2023 Gold Royalty Corp. provided revenue guidance for the year 2023. Management believes the company is on track to meet its previously disclosed forecast of $5.5 million and $6.5 million in Total Revenues and Option Proceeds in 2023 based on the production guidance published to date by the operators of the properties underlying the Company's interests, a forecasted gold price ranging from $1,700 to $2,000 per ounce and expected payments on optioned properties. Board Change • May 11
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Warren Philip Gilman is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Apr 11
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Warren Philip Gilman is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.