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Gold Royalty Corp Hits Free Cash Flow in 2025 with Flagship Royalties in Canada & USA | The Mining Investment Event 2025

Peter Behncke, Director of Corporate Development at Gold Royalty Corp, shares a major milestone for the company: 2025 marks its first year of positive free cash flow since inception just four years ago.

With over 240 royalty and streaming interests, Gold Royalty is anchored by three high-impact assets:

  • Canadian Malartic (Odyssey underground) – 3% NSR

  • Côté Gold (IAMGOLD) – 0.75% NSR

  • Goldstrike Mine (Nevada) – 1.5% NSR and 3.5% NPI over the Wren deposit

These tier-one royalties position Gold Royalty for strong and diversified cash flow growth, allowing management to pay down debt and begin exploring capital returns to shareholders.

As a project finance company, Gold Royalty partners with operators to help get new mines across the finish line—without exposure to capital or operating costs. With the Borborema mine financing as a recent success, 2025 is all about smart capital allocation and unlocking shareholder value.


🔑 Key Takeaways:

  • Over 240 Royalties & Streams
    ✓ Portfolio spans North & South America
    ✓ Flagship royalties on some of the largest mines in Canada & USA

  • Flagship Assets in Full Ramp-Up
    ✓ Canadian Malartic (Odyssey), Côté Gold, and Goldstrike (Wren deposit)
    ✓ All expected to drive significant free cash flow in 2025

  • First Year of Positive Free Cash Flow
    ✓ 2025 marks critical inflection point
    ✓ Focus: Debt repayment, reinvestment, and capital returns

  • No Exposure to Operating or Capital Costs
    ✓ Once acquired, royalties require no further funding
    ✓ Insulated model that scales efficiently with mine success

  • Strategic Growth Model
    ✓ Partnering with proven mine developers
    ✓ Proven execution with Borborema mine financing in Brazil