Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty and streaming company. Q2 2026 (quarter ended 30 Jun 2026) revenue rose ~76% year-over-year to US$6.7 million, with net income turning positive at US$1.8 million, adjusted EBITDA up 137% to US$5.6 million, and operating cash flow of US$3.7 million; six-month 2026 revenue more than doubled year-over-year with gold-equivalent ounces up over 40%. Results were released 5 Aug 2026 alongside an acquisition of additional net-smelter-return royalties (~US$0.8M). The company ended the quarter with over US$11.3 million of cash, no debt, and a fully undrawn US$150 million credit facility (inclusive of a US$25 million accordion feature). David Garofalo is Chairman and CEO; Andrew Gubbels is Chief Financial Officer.
Your Rankings
Gold Royalty Corp. does not operate mines, so it has no technical study of its own. What it holds instead is a book of royalty and stream interests in other companies' assets -- the portfolio below. Only figures the company has actually disclosed are shown; nothing here is estimated.
| Asset | Commodity | Interest | Rate / price | Stage | Next Production |
|---|---|---|---|---|---|
Canadian Malartic (surface + Odyssey underground, combined NSR) Agnico Eagle · Canada GROY's flagship cash-flowing royalty. Rate disclosed as a 2.0%-3.0% NSR range (not a single flat rate) covering the combined Canadian Malartic surface operation and Odyssey underground; see the separate 'Odyssey (underground expansion)' row below for the distinct 3.0% NSR line item the company also discloses for the underground component specifically. | Gold | Royalty NSR | — | Production | — |
Odyssey (underground expansion) Agnico Eagle · Canada Underground expansion component of Canadian Malartic, disclosed by the company as its own 3.0% NSR line item distinct from the combined surface+underground row above. UPDATE (Task #799): Agnico Eagle's own Q1/Q2 2026 results confirm production via ramp from the East Gouldie zone actually commenced in March 2026 -- about three months ahead of the company's prior plan -- and was ramping up further through Q2 2026. This zone is no longer purely a future 'expansion': it is already contributing gold production today, even as full-scale ramp-up continues (main ramp at 1,190m depth as of Jun 30, 2026, targeting ~2,000m/month development). | Gold | Royalty NSR | 3% | — | Ramp-up production began Mar 2026 (ongoing) |
Côté Gold IAMGOLD · Canada 0.75% NSR, cash flowing. | Gold | Royalty NSR | 0.75% | Production | — |
Borborema Aura Minerals · Brazil 2.0% base NSR plus an additional tiered 1.5%/1.0% NSR structure per the company's portfolio page; ratePct records the base rate only, the tiered add-on is not reducible to one number and is preserved here as text. | Gold | Royalty NSR | 2% | Production | — |
Goldstrike (REN) Nevada Gold Mines · USA Combined NSR/NPI interest disclosed as a 1.6875%-3.5% range, not a single rate -- left out of ratePct for that reason. Stage left null (research labels it 'Developing' but does not evidence a specific gate). | Gold | Royalty NSR/NPI | — | — | — |
Vareš DPM Metals · Bosnia GROY's only identified stream (vs. the rest of the portfolio, which is royalty-only). Payment is a percentage of spot copper price rather than a fixed $/lb, so streamPriceUsd is left null and the mechanism recorded in streamPriceUnit instead. Ramping toward full run rate. | Copper | Stream | 100% Cu stream, ongoing payments at 30% of spot Cu price | Production | — |
Pedra Branca Aura Minerals-linked · Brazil Contributing, cash-flowing royalty; specific rate not itemized in the sources reviewed -- genuine gap, ratePct left null rather than guessed. | Gold | Royalty | — | Production | — |
Management Team
Chairman, Chief Executive Officer and President of Gold Royalty Corp. since Aug 2020. Named 'Mining Person of the Year' by The Northern Miner (2012) and Canada's 'CFO of the Year' by Financial Executives International Canada (2009). Career: President and CEO, Goldcorp Inc. (2015-2019), through its real US$32 billion merger with Newmont Corporation (already tracked in this DB, NEM) -- the largest merger in gold-mining history; President and CEO, Hudbay Minerals Inc. (2010-2015), presiding over its emergence as a leading metals producer; SVP Finance and CFO, Agnico Eagle Mines Limited (1998-2010, already tracked in this DB, AEM); Treasurer and various finance roles, Inmet Mining Corporation (1990-1998). Bachelor of Commerce, University of Toronto; FCPA (BC); Certified Director, Institute of Corporate Directors.
Chief Financial Officer of Gold Royalty Corp. since Jan 2023. Career: Founding executive, Aris Gold Corporation (2020-2023, later renamed Aris Mining Corporation, a real, continuously-operating Colombia gold producer), SVP Corporate Development; Head of Investment Management, Americas, Eurasian Resources Group; Head of Americas Metals & Mining, UBS Investment Bank. Honours Bachelor of Commerce, Queen's University; Master of Finance, University of Toronto.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Tether (the stablecoin company) has been quietly building a real gold-royalty investment platform, increasing its stake in Gold Royalty Corp from 13.8% to 14.4% (and separately holding 51.4% of Elemental Altus). A specialist fund, Extract Advisors, also holds a small position.
No notable insiders tracked for this miner yet.