Gold Royalty reports Q2 EPS (2c), consensus (1c)

Reports Q2 revenue $468K vs. $1.9M last year. CEO David Garofalo commented: “We have maintained our 2023 financial guidance and are encouraged by the expected near-term organic cash flow growth of our portfolio with assets such as Cote and Odyssey on the cusp of entering and ramping up production. Our team has continued to execute our growth strategy in a disciplined manner, having recently announced the agreement to acquire the Cozamin royalty while simultaneously achieving a 30% decrease in quarterly cash operating expenses year over year. We expect a strong second half of 2023 with increased production from Canadian Malartic, initial revenues from Cozamin, and Cote nearing completion of construction.”