Vancouver – November 05, 2026 -- Gold Royalty Corp. (NYSE American: GROY) reported record third-quarter revenue of $10.2 million, up about 147% from the same period of 2025, as Gold Equivalent Ounces (GEOs) rose roughly 103% to 2,689.
Adjusted EBITDA rises 256% to $9.0 million
Adjusted EBITDA reached $9.0 million, about 256% above the prior-year quarter, with net income of $3.8 million. Total Revenue, Land Agreement Proceeds and Interest, a non-IFRS measure, totaled $11.5 million, up about 151%.
The company says it has achieved 76% of the midpoint of its 2026 guidance of 7,500-9,300 GEOs as of September 30 and remains on track to meet the range.
Balance sheet carries $21.0 million cash and no debt
Gold Royalty ended the quarter with about $21.0 million in cash and cash equivalents and no debt. Its $125 million revolving credit facility is fully undrawn, with an accordion allowing up to $25 million more, subject to conditions. During the quarter it paid $0.8 million for net smelter return (NSR) royalties on the Sterling project and a portion of the Granite Creek mine, both in Nevada.
Chairman and CEO David Garofalo said the company expects strong free cash flow growth and the prospect of cash returns to shareholders, driven by production growth at Odyssey, Côté, Vareš, REN, South Railroad, Granite Creek and the Jerritt Canyon restart.
Aura reports record Borborema output of 22,842 GEOs
Aura Minerals said Borborema, where Gold Royalty holds a 2.75% NSR, produced a record 22,842 GEOs in the third quarter, 60% above the prior quarter, on higher grades. Aura targets January 2027 to move several assets, including Borborema, from third-party contractors to in-house fleet operation and maintenance.
Agnico Eagle targets Odyssey shaft production in Q2 2027
Agnico Eagle completed the first phase of shaft sinking at Odyssey (3.0% NSR, partial coverage) in July 2026, reaching 1,586 metres. First production through Shaft #1 is scheduled for the second quarter of 2027. The second phase is expected to start in 2029 and finish in 2031, extending the shaft to 1,870 metres. Agnico Eagle plans to file a decree modification application in the first quarter of 2027 for a possible second shaft, with permitting expected to take about 18 months. Drilling in the Artemis zone returned 13.7 g/t gold over 14.6 metres.
Capstone sells Cozamin to Luca Mining for up to $385 million
Capstone Copper announced on September 21 the sale of Cozamin (1.0% NSR, partial coverage) to Luca Mining for up to $385 million. Closing is expected in the fourth quarter of 2026, subject to stock exchange and Mexican National Antitrust Commission approvals. Capstone said Cozamin was trending toward the upper end of its 2026 guidance.
Nevada projects advance at Granite Creek, Jerritt Canyon and South Railroad
i-80 Gold expects 30,000-40,000 ounces of gold from Granite Creek Underground in 2026 after publishing an NI 43-101 feasibility study. It has moved construction of the Granite Creek open pit to after Mineral Point enters production. Gold Royalty holds a 10.0% net profits interest (NPI), subject to a 120,000 oz production hurdle, and a 0.5% NSR.
First Majestic said Jerritt Canyon (0.5% NSR) remains on track to resume production in the second half of 2027. It completed 5,965 metres of underground rehabilitation year-to-date and 16,284 metres of drilling in the quarter.
Equinox Gold received a Record of Decision from the US Bureau of Land Management for South Railroad (0.44% NSR, partial coverage). Detailed engineering is 55.2% complete, initial mining is scheduled for spring 2027 and first gold is planned for 2028.
Barrick keeps REN at 140,000 ounces a year from 2027
Barrick reported 605 metres of development at the West Barrel declines at REN (1.6875% NSR and 3.5% NPI) and advanced the ventilation shaft to 100 metres below collar. It still expects average annual production of about 140,000 contained ounces on a 100% basis at full production in 2027. Fan commissioning is expected in the second quarter of 2027.
At Vareš, where Gold Royalty holds a 100% copper stream with payments of 30% of the spot copper price, DPM Metals reported on October 1 that the Constitutional Court of Bosnia and Herzegovina had published its full decision in the constitutional dispute between the state and the Federation of Bosnia and Herzegovina.