The company reported a 116% year-over-year increase in revenue and reaffirmed 2026 production guidance amid portfolio expansion.
Gold Royalty Corp reported first-half revenue of $17.3 million, up 116% from the prior year, driven by higher gold equivalent ounces and land agreement proceeds. Adjusted EBITDA surged 212% to $12.6 million, while GEOs rose over 40% to 3,677 ounces.
The company maintained its 2026 guidance of 7,500–9,300 GEOs, with production expected to accelerate in the second half as projects like Vareš and County Line ramp up. Gold Royalty also projected 28,000–34,000 GEOs by 2030 from its existing portfolio of over 250 assets.
Gold Royalty ended the quarter with $11.3 million in cash, no debt, and an undrawn $150 million credit facility. Key catalysts include Vareš reaching commercial production and REN’s expected first output by year-end.