(Kitco News) - Gold Royalty (NYSE: GROY) announced Tuesday that for the fiscal year ended September 30, 2022 (FY22), its total revenue and option proceeds from the royalty generation program amounted to $5.7 million, exceeding guidance of $5.0 million.
The company also reported adjusted net loss of $12.5 million in FY22, compared to adjusted net loss of $9.3 million in FY21, adding that cash, cash equivalents and marketable securities amounted to approximately $14.2 million as at September 30, 2022.
Gold Royalty noted that in FY22, the company continued the execution of its acquisition strategy completing the acquisition of Abitibi Royalties and Golden Valley Mines and Royalties, acquiring a royalty on the Côté gold project, expanding its royalties on the Beaufor mine, and acquiring a portfolio of royalties in Nevada from Nevada Gold Mines.
Importantly, the company said that its portfolio expands to 216 royalties with a focus on the best mining jurisdictions in the Americas (2021 Fraser Institute of Mining Attractiveness Index), adding that it introduced quarterly dividends in 2022, yielding over 1.5% at current share prices.
Chairman and CEO David Garofalo commented, “We are pleased to have exceeded our fiscal 2022 guidance with $5.7 million in total revenues and option proceeds from our highly successful royalty generation program. This marks the first full fiscal year for Gold Royalty as a public company with our portfolio already delivering meaningful organic revenue growth, and with several of our most significant royalties on high-quality, long-life projects expected to enter production in the next 12 to 18 months.”
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.
