Gold Royalty Corp. (NYSE American: GROY) has announced impressive financial results for the fourth quarter and full year of 2024, showcasing record revenues and positive cash flows. The company is optimistic about its growth trajectory, projecting significant increases in gold equivalent ounces (GEOs) for 2025 and beyond.
Key Takeaways
- Record revenue of $10.1 million for 2024, with $3.4 million in Q4 alone.
- Positive operating cash flow of $2.5 million for the year.
- Expected GEOs to rise to between 5,700 and 7,000 in 2025, a 16% increase from 2024.
- Anticipated growth of over 360% in GEOs by 2029, reaching between 23,000 and 28,000.
Financial Highlights
Gold Royalty's financial performance for the fourth quarter and full year of 2024 is as follows:
Metric |
Q4 2024 |
Q4 2023 |
Full Year 2024 |
Full Year 2023 |
Revenue |
$3.4 million |
$1.0 million |
$10.1 million |
$3.0 million |
GEOs |
1,445 |
667 |
5,462 |
2,703 |
Operating Cash Flow |
$1.3 million |
-$1.7 million |
$2.5 million |
-$6.9 million |
Adjusted EBITDA |
$1.2 million |
-$3.0 million |
$4.8 million |
-$4.4 million |
Growth Expectations for 2025
Gold Royalty is poised for continued growth in 2025, with several key projects ramping up production:
- Côté Gold Mine: Expected to contribute significantly to cash flows as it stabilizes operations.
- Borborema Project: Anticipated to achieve commercial production in the second half of 2025, with production guidance of 33,000 to 40,000 ounces of gold.
- Cozamin Mine: Continues to provide steady cash flow, contributing to the overall revenue.
The company’s outlook for 2025 includes:
- GEOs: Projected to increase to between 5,700 and 7,000.
- Cash Flow: Expected to achieve positive free cash flow as production ramps up across multiple assets.
Five-Year Outlook
Looking ahead, Gold Royalty forecasts a remarkable growth trajectory:
- 2029 GEOs: Expected to reach between 23,000 and 28,000, representing a 367% increase from 2024 levels.
- Production Growth: Driven by existing assets and new developments, including the Ren and Granite Creek projects.
Conclusion
Gold Royalty Corp. is on a promising path, with record revenues and a robust growth strategy for the coming years. The company’s focus on high-quality, sustainable mining operations positions it well for continued success in the gold royalty sector. Investors and stakeholders can look forward to a conference call scheduled for March 20, 2025, to discuss these results in detail.
Sources