Research analysts who have asked questions during Gold Royalty earnings calls.
Heiko Ihle
H.C. Wainwright & Co.
5 questions for GROY
Also covers: AREC, ASM, AUMN +14 more
EW
Eric Winmill
Bank of Nova Scotia
2 questions for GROY
Also covers: FSM, MTAL, NGD
JT
John Tumazos
John Tumazos Very Independent Research
2 questions for GROY
Also covers: AA, AEM, ASM +13 more
Kerry Smith
Haywood Securities Inc.
1 question for GROY
Also covers: AGI, ARMN
Recent press releases and 8-K filings for GROY.
Gold Royalty Corp. Reports Record Revenue and Completes Borborema Royalty Acquisition
GROY
Earnings
M&A
New Projects/Investments
- Gold Royalty Corp. announced record quarterly and annual revenue for the fourth quarter and full year 2025.
- Total Revenue, Land Agreement Proceeds and Interest for Q4 2025 increased by approximately 37% year-over-year to $5.2 million, and for FY 2025, it increased by 38% to $17.7 million.
- The company completed the acquisition of a 1.5% net smelter returns royalty on the Borborema gold mine for a total consideration of $45 million, comprising $30 million in cash and 3,571,429 common shares.
- Taurus Mining Royalty Fund, L.P. will participate for a one-half indirect economic interest in the Borborema royalty for $22.5 million in cash.
Jan 21, 2026, 10:05 PM
Gold Royalty Reports Record Quarterly and Annual Revenue and Completes Royalty Acquisition
GROY
Earnings
M&A
Guidance Update
- Gold Royalty Corp. achieved record quarterly revenue and Total Revenue, Land Agreement Proceeds and Interest of $5.2 million (revenue of $4.2 million) for Q4 2025, an approximate 37% increase from Q4 2024. For the full year 2025, Total Revenue, Land Agreement and Proceeds and Interest reached a record $17.7 million (revenue of $13.9 million), up 38% from 2024.
- The company completed the acquisition of a net smelter returns royalty from Dundee Corporation for $45 million, paid with $30 million in cash and the balance in shares. Taurus Mining Royalty Fund, L.P. will participate for a $22.5 million indirect economic interest in this royalty.
- Gold Royalty expects the newly acquired Pedra Branca and Borborema royalties to contribute to further revenue growth in 2026 and beyond.
- Full financial and operating results for Q4 2025, along with 2026 guidance and a longer-term outlook, are scheduled for release on March 18, 2026.
Jan 21, 2026, 10:00 PM
Dundee Corporation Announces Closing of Borborema Gold Project Royalty Sale
GROY
M&A
New Projects/Investments
- Dundee Corporation has closed the sale of its royalty on the Borborema Gold Project to Gold Royalty Corp. (GROY).
- The total purchase price was US$45 million, consisting of US$30 million in cash and US$15 million in common shares of GROY issued to Dundee at US$4.20 per share.
- Dundee's President and CEO, Jonathan Goodman, stated that the transaction strengthens the company's balance sheet and delivered Net Asset Value (NAV) accretion for shareholders.
- As of January 20, 2026, Dundee Corporation's updated NAV per share is $8.28, while its share price was $4.41, indicating a 47% discount to NAV.
Jan 21, 2026, 10:00 PM
Gold Royalty Corp. Announces Acquisition of Additional Borborema Royalty
GROY
M&A
New Projects/Investments
- Gold Royalty Corp. (GROY) has entered into an agreement to acquire an additional net smelter royalty on the Borborema gold mine from Dundee Corporation for a total consideration of US$45 million, comprising US$30 million in cash and 3,571,429 newly issued common shares.
- The acquired royalty applies a rate of 1.5% of net smelter returns on the first 1.5 million ounces of payable gold production, which then steps down to 1.0% until 2.0 Moz of payable gold is produced.
- Taurus Mining Royalty Fund, L.P. intends to acquire an economic interest in one-half of this royalty for US$22.5 million in cash.
- The Borborema Project, operated by Aura Minerals Inc., achieved commercial production on September 22, 2025, and reported 15,777 gold equivalent ounces in Q4 2025, representing a 54% increase over the previous quarter.
Jan 14, 2026, 11:50 AM
Gold Royalty Acquires Additional Borborema Royalty
GROY
M&A
New Projects/Investments
- Gold Royalty Corp. is acquiring an additional net smelter royalty on the Borborema gold mine and property from Dundee Corporation for a total consideration of US$45 million, consisting of US$30 million in cash and 3,571,429 newly issued common shares.
- The new royalty provides 1.5% of net smelter returns on the first 1.5 million ounces of payable gold production, then 1.0% until 2.0 million ounces are produced.
- Taurus Mining Royalty Fund, L.P. intends to acquire an economic interest to one-half of this new royalty for US$22.5 million in cash.
- The Borborema Project, operated by Aura Minerals Inc., achieved commercial production on September 22, 2025, and reported total production of 15,777 gold equivalent ounces in Q4 2025, which is 54% above the previous quarter.
Jan 14, 2026, 11:45 AM
Gold Royalty Completes Pedra Branca Royalty Acquisition
GROY
M&A
New Projects/Investments
- Gold Royalty Corp. (GROY) completed its acquisition of a royalty on the Pedra Branca operating copper and gold mine on December 12, 2025.
- The acquisition was made from BlackRock World Mining Trust plc for US$70,000,000 cash.
- The acquired royalty consists of a 25% Net Smelter Return (NSR) on gold and a 2% NSR on copper and other products produced from the Pedra Branca mine.
- The Pedra Branca mine is currently owned and operated by a subsidiary of BHP Group Limited.
Dec 12, 2025, 9:05 PM
Gold Royalty Completes Pedra Branca Royalty Acquisition
GROY
New Projects/Investments
M&A
- Gold Royalty Corp. (GROY) has completed its acquisition of a royalty on the Pedra Branca operating copper and gold mine.
- The acquired royalty consists of a 25% net smelter return (NSR) on gold and a 2% NSR on copper and other products produced from the Pedra Branca mine.
- The Pedra Branca mine is currently owned and operated by a subsidiary of BHP Group Limited.
Dec 12, 2025, 7:40 AM
Gold Royalty Completes US$103.5 Million Bought Deal Financing
GROY
New Projects/Investments
M&A
- Gold Royalty Corp. completed a public offering on December 11, 2025, issuing 25,875,000 common shares at US$4.00 per share, generating US$103.5 million in aggregate gross proceeds.
- The net proceeds from the offering are intended to fund the acquisition of an existing royalty on the Pedra Branca mine and for general corporate purposes.
- Following the completion of the offering, Gold Royalty Corp. has 223,375,625 Common Shares outstanding.
Dec 11, 2025, 10:01 PM
Gold Royalty Corp. Acquires Pedra Branca Mine Royalty
GROY
M&A
New Projects/Investments
- Gold Royalty Corp. (GROY) is acquiring a royalty over the Pedra Branca mine in Brazil for $70 million in cash from BlackRock World Mining Trust plc.
- The royalty terms include a 25% Net Smelter Return (NSR) on gold and a 2% NSR on copper, covering both the Pedra Branca East and West deposits.
- The acquisition is expected to be materially accretive to Gold Royalty's cash flows, with the royalty having generated approximately $7.9 million (equivalent to 2,800 gold equivalent ounces) for the 12 months ended June 30, 2025.
- Gold Royalty Corp. has secured $90 million through an oversubscribed equity raise, resulting in the company being debt-free with nearly $100 million in available cash and unused credit facilities.
Dec 11, 2025, 3:00 PM
Gold Royalty Acquires Pedra Branca Royalty, Raises Equity, and Becomes Debt-Free
GROY
M&A
New Projects/Investments
- Gold Royalty (GROY) acquired the Pedra Branca Copper and Gold Royalty for $70 million in cash from BlackRock World Mining Trust PLC, a royalty on BHP's Pedra Branca mine which has been in production since 2020.
- The acquisition is estimated to be approximately 10% accretive to net asset value per share and 45% accretive on cash-flow per share in 2026.
- Based on production over the 12 months to June 30th, the royalty would have generated over $12 million of revenue from 2,800 gold-equivalent ounces. The royalty will start contributing to Gold Royalty on January 1st, 2026.
- To fund the acquisition, Gold Royalty completed an equity issuance that was upsized to $90 million, resulting in gross proceeds of $103.5 million.
- Following the acquisition and financing, Gold Royalty is now debt-free and has nearly $100 million of cash and unutilized credit lines.
Dec 11, 2025, 3:00 PM
Quarterly earnings call transcripts for Gold Royalty.
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