GOLD ROYALTY ANNOUNCES RECORD TOTAL REVENUE, LAND AGREEMENT PROCEEDS AND INTEREST AND GEOS
First Quarter Results to be Released on
In the first quarter of 2024, the Company had its first full quarter of pre-production and gold payments under the Borborema royalty and gold-linked loan financing completed in
While quarterly land agreement proceeds from the royalty generator model are expected to be lower for the remainder of the year, strong commodity prices and the expected ramp up of Côté towards commercial production in the third quarter of 2024 are expected to continue to fuel growth in royalty revenue through the remainder of 2024.
The Company remains on track to meet its previously disclosed forecast for 2024 of between approximately 5,000 and 5,600 GEOs, which equates to approximately
The 2024 outlook regarding total GEOs is based on public forecasts, expected development timelines and other disclosure by the owners and operators of the properties underlying our interests and our assessment thereof.
* Total GEOs and Total Revenue, Land Agreement Proceeds and Interest are non-IFRS financial measures. See "Non-IFRS Measures" below.
An investor webcast will be held on
To register for the Q1 2024 investor webcast, please click the link below: https://www.bigmarker.com/vid-conferences/GROY-2024-Q1-Results
A replay of the event will be available on the
To register for the 2024 investor day webcast, please click the link below: https://www.bigmarker.com/vid-conferences/GROY-Virtual-Investor-Day
A replay of the event will be available on the
Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and
We have included, in this document, certain performance measures, including: (i) Total Revenue, Land Agreement Proceeds and Interest; and (ii) GEOs which are each non-IFRS measures. The presentation of such non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.
- Total Revenue, Land Agreement Proceeds and Interest reconciliation
Total Revenue, Land Agreement Proceeds and Interest are determined by adding land agreement proceeds credited against mineral properties and the gold-linked loan interest. The Company has included this information as management believes certain investors use this information to evaluate our performance in comparison to other gold royalty companies in the precious metal mining industry. Below is a reconciliation of our Total Revenue, Land Agreement Proceeds and Interest to total revenue for the three months ended
|
|
For the three months |
||
(in thousands of dollars) |
|
2024 ($) |
|
2023 ($) |
Royalty |
|
1,062 |
|
234 |
Advance minimum royalty and pre-production royalty |
|
830 |
|
331 |
Land agreement proceeds |
|
2,052 |
|
1,405 |
Loan interest |
|
241 |
|
— |
Total Revenue, Land Agreement Proceeds and Interests |
|
4,185 |
|
1,970 |
Land agreement proceeds credited against mineral properties |
|
(1,050) |
|
(1,203) |
Loan interest |
|
(241) |
|
— |
Revenue |
|
2,894 |
|
767 |
- GEOs
Total GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by the average gold prices for the applicable period:
(in thousands of dollars, except Average Gold Price/oz and GEOs) |
|
Average |
|
Total |
|
GEOs |
For three months ended |
|
1,889 |
|
1,970 |
|
1,043 |
For three months ended |
|
2,072 |
|
4,185 |
|
2,019 |
View original content:https://www.prnewswire.com/news-releases/gold-royalty-announces-record-total-revenue-land-agreement-proceeds-and-interest-and-geos-302122828.html
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