Gold Royalty sees FY24 GEOs 6,500-7,000, acquisitions to drive Q4 revenue

Reports Q revenue $2.1M, consensus $3.91M.Total Revenue, Land Agreement Proceeds and Interest increased by 90% in the third quarter of 2024 from the same period of 2023 to $2.6 or Revenue of $2.1M equating to 1,051 gold equivalent ounces. For the first nine months of 2024, Total Revenue, Land Agreement Proceeds and Interest increased by over 130% from the same period of 2023 to a nine month record of $9M Revenue of $6.7M, equating to 4,017 GEOs. In the third quarter of 2024, revenue from the Company’s royalty on the Cote Gold Mine operated by IAMGOLD Corporation increased as the mine continued its ramp up. On October 15, 2024, IAMGOLD announced that the mine continued on track to achieve 90% of its 36,000 tonnes per day throughput by the end of 2024. It also announced that a record daily throughput of 40,900 tpd or +14% above nameplate capacity, was achieved at the mine after its September 2024 scheduled shutdown. Furthermore, the Company expects to receive first revenue from its copper stream over the Vares Mine in the fourth quarter as the asset ramps up to achieve nameplate capacity by the end of the year and first copper revenue is delivered. 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 $13M to $14M in forecasted Total Revenue, Land Agreement Proceeds and Interest.