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 & USAFlagship Assets in Full Ramp-Up
✓ Canadian Malartic (Odyssey), Côté Gold, and Goldstrike (Wren deposit)
✓ All expected to drive significant free cash flow in 2025First Year of Positive Free Cash Flow
✓ 2025 marks critical inflection point
✓ Focus: Debt repayment, reinvestment, and capital returnsNo Exposure to Operating or Capital Costs
✓ Once acquired, royalties require no further funding
✓ Insulated model that scales efficiently with mine successStrategic Growth Model
✓ Partnering with proven mine developers
✓ Proven execution with Borborema mine financing in Brazil
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