Business
Gold Royalty Corp. Provides Royalty Portfolio Update
VANCOUVER, BC, Nov. 15, 2021 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce an update on the Company'
About this update from Gold Royalty Corp.
[{"type":"text","content":" VANCOUVER, BC, Nov. 15, 2021 /CNW/ - Gold Royalty Corp. (\"Gold Royalty\" or the \"Company\") (NYSE American: GROY) is pleased to announce an update on the Company's producing, development, and exploration stage royalties and royalty generation activities. Recent property advancement updates from project operators have highlighted exploration success and significant project development milestones. Selected key highlights for the projects underlying Gold Royalty's assets include: Producing and Development Stage Assets Canadian Malartic (Agnico Eagle & Yamana JV) – Odyssey Project (3.0% Net Smelter Return Royalty \"NSR\") - Cornerstone Royalty Continues to Advance with Ramp & Shaft Construction On October 27, 2021, Agnico Eagle Mines Ltd. (\"Agnico Eagle\") announced that during the third quarter of 2021, underground development of the ramp at Odyssey continued. While underground development was slightly below plan, Agnico Eagle disclosed that approximately 1,118 linear metres of ramp development has been completed in 2021, which is ahead of schedule and at a lower development unit cost than anticipated. The ramp is designed to support mining the upper zones of the Odyssey Project and provide access for further underground exploration. The concrete headframe pour started on September 29, 2021 and was completed in October 2021. The structural steel installation is expected to start in the fourth quarter of 2021. The contract for the shaft sinking is expected to be awarded in the fourth quarter of 2021 and begin in the fourth quarter of 2022. The headframe construction is on schedule and budget. On November 2, 2021, Agnico Eagle announced an update on exploration drilling at the Odyssey project. This included recent underground drill results in the Odyssey Internal Zone and the Jupiter Zone which Agnico disclosed continue to demonstrate the potential to add mineral resources in close proximity to the Odyssey North and Odyssey South deposits and planned infrastructure that is currently under development. Gold Royalty holds a 3% NSR that covers a significant portion of the Odyssey Underground project. In addition, Agnico Eagle disclosed the results from the easternmost hole at the East Gouldie deposit, which is trending east, towards the Company's 1.5% NSR over the Midway project (1.0% can be purchased for US$1 million). The ...