Gold Royalty Corp. generated $13.9 million in revenue for the six months ended 30 June 2026, more than doubling the $6.96 million recorded in the same period last year. Gold equivalent ounces (GEOs) reached 3,677 for the first half of the year, a 40% increase that keeps the company on track to meet its previously announced annual guidance of 7,500 to 9,300 GEOs.

The financial performance was anchored by a strong second quarter, which saw $6.7 million in revenue and $5.6 million in adjusted EBITDA. The company ended the quarter with $11.3 million in cash, no debt, and access to a fully undrawn $150 million credit facility, which includes a $25 million accordion feature. Following the release of these results, the company's shares closed at $2.89 on 5 August 2026, rising 7.43% during the session.

“Gold Royalty's growth is in high gear with half-year revenues more than doubling year-over-year and over 40% growth in gold equivalent ounces* in the first half of 2026, both to new record levels.”

— David Garofalo, Chairman and CEO of Gold Royalty

Expansion of the company's asset base in Nevada, USA, remained a priority during the period. Gold Royalty acquired an additional 0.875% net smelter return (NSR) royalty interest over the Ren project for $6.25 million. Following the close of the second quarter, the company further strengthened its position by acquiring additional NSR royalties covering the Sterling project and a portion of the Granite Creek mine for a total of $0.8 million.

These acquisitions are set against a pipeline of upcoming operational milestones. The project operators are currently advancing several key developments that are expected to serve as catalysts in the latter half of 2026 and beyond. Notably, construction start at the South Railroad project is anticipated in mid-2026, while first production from the Ren project is targeted for the second quarter of 2027. Elsewhere, the planned resumption of mining operations at the Jerritt Canyon project is scheduled for the second half of 2027.

The company’s royalty generator model continues to support this activity, with 56 royalties generated since the acquisition of Ely Gold Royalties in 2021. Gold Royalty currently holds 38 properties subject to land agreements, with six properties currently under lease generating proceeds.

“With our portfolio heavily concentrated in gold and copper and projected peer-leading growth in gold equivalent ounces over the next five years, Gold Royalty provides its shareholders strong leverage to gold and copper prices from mines in Tier One jurisdictions with top operators.”

— David Garofalo, Chairman and CEO of Gold Royalty

The company’s 2026 outlook and GEO forecasts are based on an assumed gold price of $5,150 per ounce and an assumed copper price of $5.75 per pound. These forecasts incorporate approximately 684 GEOs attributed to land agreement proceeds, which are credited against other mineral interest and interest payments.

Read the full announcement: GOLD ROYALTY REPORTS RECORD SIX-MONTH RESULTS WITH CONTINUED STRONG CASH FLOW AND EARNINGS GROWTH