Gold Royalty Corp. (NYSE American: GROY) is pleased to announce the filing of its operating and financial results for the fiscal year ended September 30, 2022. Going forward, the Company will change its fiscal year end to December 31 commencing in 2023 to better align with the reporting cycle of our peers. All amounts expressed in U.S. dollars unless otherwise noted.
David Garofalo, Chairman and CEO of Gold Royalty, commented, “We are pleased to have exceeded our fiscal 2022 guidance with $5.7 million in Total Revenues and Option Proceeds1 from our highly successful royalty generation program. This marks the first full fiscal year for Gold Royalty as a public company with our portfolio already delivering meaningful organic revenue growth, and with several of our most significant royalties on high-quality, long-life projects expected to enter production in the next 12 to 18 months.”
“Our current asset base and strong balance sheet give us a solid foundation to grow and we are optimistic that we can continue to accretively add new assets to the portfolio. We are also pleased to announce that we will be publishing our inaugural Asset Handbook and ESG & Sustainability Report in the first half of 2023,” added Mr Garofalo.
Highlights for the 2022 fiscal year include:
_______________________ |
1 See Non-IFRS Measures below. |
2 Number of royalties is presented on a pro forma basis assuming the closing of the previously announced agreement with Val-d’Or Mining. Refer to the Company’s press release dated December 2, 2022. |
A summary of the financial and operating results for the year ended September 30, 2022, follows:
Year Ended September 30, 2022 |
Year Ended September 30, 2021 |
||
(in thousands of dollars, except per share amounts) | ($) | ($) | |
Statement of Loss and Comprehensive Loss | |||
Revenue | 3,944 | 192 | |
Net loss | (17,346) | (15,006) | |
Net loss per share, basic and diluted | (0.14) | (0.45) | |
Dividends declared per share | 0.03 | 0 | |
Non-IFRS and Other Measures | |||
Total Revenue and Option Proceeds* | 5,724 | 192 | |
Adjusted Net Loss* | (12,462) | (9,338) | |
Adjusted Net Loss Per Share, basic and diluted* | (0.10) | (0.28) | |
Total GEOs* | 2,156 | 104 | |
Cash flow used in operating activities, excluding changes in non-cash working capital* |
(12,169) | (9,088) | |
Cash flow used in operating activities, excluding changes in non-cash working capital and transaction related expenses* |
(6,576) | (5,853) |
For further detailed information, please refer to the Company’s Annual Report on Form 20-F, including its audited financial statements and management’s discussion and analysis, for the year ended September 30, 2022, copies of which are available under the Company’s profile at www.sedar.com and www.sec.gov.
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty’s diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.
Qualified Persons
Alastair Still, P.Geo., Director of Technical Services of the Company, is a “qualified person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects of Canadian Securities Administrators and has reviewed and approved the technical information disclosed in this news release.
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