Gold Royalty Announces Strong Quarterly Revenue Growth and Record Revenues for the First Nine Months of 2024
- Approximate 160% increase in revenue and 90% increase in Total Revenue, Land Agreement Proceeds and Interest* in the third quarter of 2024 from the same period in 2023.
- Recent strategic acquisitions poised to deliver further revenue growth in the fourth quarter of 2024.
Preliminary Third Quarter 2024 Results
Total Revenue, Land Agreement Proceeds and Interest* increased by 90% in the third quarter of 2024 from the same period of 2023 to
In the third quarter of 2024, revenue from the Company's royalty on the Côté
As a result, the Company remains on track to achieve its previously announced guidance for 2024 of between 6,500 and 7,000 GEOs, which equates to approximately
*Total GEOs and Total Revenue, Land Agreement Proceeds and Interest are non-IFRS financial measures. See "Non-IFRS Measures" below.
Third Quarter 2024 Results and Webcast Details
A conference call will be held on
Webinar: Click Here
US (toll-free): 1-866-652-5200
International: 1-412-317-6060
The third quarter 2024 presentation materials will be available on
The 2024 outlook regarding total GEOs* is based on public forecasts, expected development timelines and other disclosure by the owners and operators of the properties underlying our interests and our assessment thereof.
About
Qualified Person
Alastair Still,
Notice to Investors
For further information regarding the properties underlying the Company's royalties, stream and other interests, please refer to the disclosures of the operators thereof, including the news releases referenced herein and the other disclosures of such operators. Disclosure relating to properties in which
Forward-Looking Statements:
Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and
Non-IFRS Measures
We have included, in this document, certain performance measures, including: (i) Total Revenue, Land Agreement Proceeds and Interest; and (ii) GEOs which are each non-IFRS measures. The presentation of such non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.
Total Revenue, Land Agreement Proceeds and Interest reconciliation
Total Revenue, Land Agreement Proceeds and Interest are determined by adding land agreement proceeds credited against mineral properties and the gold-linked loan interest. The Company has included this information as management believes certain investors use this information to evaluate our performance in comparison to other gold royalty companies in the precious metal mining industry. Below is a reconciliation of our Total Revenue, Land Agreement Proceeds and Interest to total revenue for the three and nine-months ended
|
|
For the three months |
|
For the nine months |
||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
(in thousands of dollars) |
|
($) |
|
($) |
|
($) |
|
($) |
Royalty |
|
1,172 |
|
573 |
|
3,177 |
|
1,206 |
Pre-acquisition royalty revenue credited against Cozamin purchase price |
|
— |
|
226 |
|
— |
|
226 |
Advance minimum royalty and pre-production royalty |
|
807 |
|
153 |
|
2,250 |
|
509 |
Land agreement proceeds |
|
335 |
|
418 |
|
2,788 |
|
1,956 |
Loan interest |
|
287 |
|
— |
|
786 |
|
— |
Total Revenue, Land Agreement Proceeds and Interest |
|
2,601 |
|
1,370 |
|
9,001 |
|
3,897 |
Land agreement proceeds credited against mineral properties |
|
(254) |
|
(347) |
|
(1,467) |
|
(1,639) |
Pre-acquisition royalty revenue credited against Cozamin purchase price |
|
— |
|
(226) |
|
— |
|
(226) |
Loan interest |
|
(287) |
|
— |
|
(786) |
|
— |
Revenue |
|
2,060 |
|
797 |
|
6,748 |
|
2,032 |
GEOs
Total GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by the average gold prices for the applicable quarter:
(in thousands of dollars, except Average Gold Price/oz |
|
Average |
|
Total Revenue, |
|
GEOs |
For three months ended |
|
2,475 |
|
2,601 |
|
1,051 |
For three months ended |
|
1,927 |
|
1,370 |
|
711 |
For nine months ended |
|
2,241 |
|
9,001 |
|
4,017 |
For nine months ended |
|
1,914 |
|
3,897 |
|
2,036 |
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