See What THIS Gold Stock is Doing

Gold Royalty Corp. (NYSE-American: GROY) — currently trading around US$2.95 per share — has begun to receive royalty payments on industry-leader Newmont’s producing Borden Gold Mine located in northern Ontario, Canada. 

Gold Royalty has now received royalty back payments of around $1.4 million to-date from Newmont. Importantly, the mine boasts exceptionally high gold grades with a mine life extending out to 2027. 

See what this gold stock is doing and you can profit.

Gold Royalty CEO David Garofalo — whom you’re about to hear from directly in our exclusive interview — commented via press release:

“Borden brings another high-quality cash flowing asset into our portfolio. Along with the expected start of production at Beaufor this month, we will have eight royalties on producing assets and twenty assets in development supporting our industry leading revenue growth profile. As the former CEO of Goldcorp, I recall our team developing Borden as a next generation, environmentally friendly mine, and I am excited for Gold Royalty to now be a part of this asset as a royalty holder.” 

As noted, GROY’s impressive portfolio includes eight royalties on producing assets, including the Beaufor Gold Mine located in Quebec, Canada. The mine is operated by Monarch Mining, which began pouring its first gold from the operation earlier this week. 

GROY also recently acquired a royalty on a portion of IAMGOLD’s Côté gold project located in Ontario, Canada. The Côté royalty represents both a near-term and long-life royalty on a large open-pit operation with initial commercial production slated for the second half of 2023. A recently completed feasibility study on the project envisions an average annual production of 367,000 oz Au over a projected 18-year mine life. 
GROY’s intelligent growth model continues to pay dividends with the acquisitions of Abitibi Royalties and Golden Valley Mines earlier this year. And speaking of dividends, Gold Royalty commenced an inaugural quarterly dividend program in Q1 starting with a quarterly cash dividend of US$0.01 per common share — a major milestone for the firm and an achievement few juniors can match. 

GROY’s royalty portfolio is heavily weighted in the Tier-1 mining jurisdictions of Quebec, Canada, and Nevada, USA, and is anchored by a 3% net smelter return (NSR) royalty on a significant portion of the Canadian Malartic Odyssey underground gold project located in northwestern Quebec. 

The Odyssey royalty represents a generational long-life royalty asset for GROY. Major operators Agnico Eagle and Yamana approved construction of the Odyssey project last year; estimated annual production of 500,000 to 600,000 gold ounces is slated to commence next year running through 2039. 

Earlier this month, I said, “With the price of gold pulling back from $1,970 per ounce in early-April to currently around $1,765 an ounce, GROY has also retreated from the mid-$4 per-share level to currently right around $2.25 per share, which may prove an optimum near-term entry point as gold establishes a bottom.” GROY has since moved up to the current $2.95 level and appears to be gaining upward momentum in tandem with the precious metals. 

Gold Royalty is continuing to deliver on its aggressive growth model that’ll soon eclipse 200 royalties spread across the Americas. And while GROY cannot control the price of gold — which, along with silver, is getting a solid boost from this week’s Fed comments — the company is setting up nicely for long-term success as the yellow metal resumes its upward trajectory. 

Our own Gerardo Del Real of Junior Resource Monthly sat down with Gold Royalty Corp. CEO David Garofalo for an in-depth discussion on the precious metals market and the company’s industry-leading growth profile. Enjoy!   

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest