Gold Royalty Corp. · AMEX:GROY
Gold Royalty — Q4 2022 Earnings Presentation
26 slides from Gold Royalty's earnings presentation, Nov 22, 2022
Slide 1: Fourth Quarter Investor Webcast
Fourth Quarter Investor Webcast November 22, 2022 goldroyalty.com / NYSE: GROY 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Information Technical Information The information contained herein includes “forward-looking statements” within the meaning of the United States Alastair Still, P.Geo., the Director of Technical Services at Gold Royalty Corp., a qualified person as such term is Private Sec
Slide 3: Q4 Investor Webcast
Q4 Investor Webcast David Garofalo Alastair Still Samuel Mah Chairman, Director of Technical Vice President, Co-founder & CEO Services Evaluations goldroyalty.com / NYSE: GROY 3
Slide 4: Gold Royalty Companies Protect Investors from Inflation
Gold Royalty Companies Protect Investors from Inflation Royalty companies are insulated from cost inflation Rising inflation causes real rates to decline, driving up the price of gold and proceeds from royalties Gold has historically shown strength when real rates are in negative territory. Gold Roy
Slide 5: Portfolio Overview
Portfolio Overview Canada Gold Royalty’s portfolio of over 200 royalties is anchored in the best mining jurisdictions Quebec 64 in the world, on high-quality assets, with the best operating partners in the sector. Ontario 25 Gold Royalty has exposure to over 700,000 meters of drilling in 2022(1) Nor
Slide 6: Gold Royalty Moving Forward
Gold Royalty Moving Forward Robust Sources of Growth Coming Into Production Exploration Advanced Exploration Development Production Trenton Canyon Swanson Fenelon Côté Gold Canadian Malartic White Rock Gold Bar Midway Odyssey Jerritt Canyon x 2 Tuscarora War Eagle Callahan Whistler REN Borden Ducros
Slide 7: Gold Royalty Moving Forward
Gold Royalty Moving Forward Robust Revenue Forecast with a ~60% CAGR (2022 - 2025) Gold Royalty Revenue Profile and Growth Expected (US$ mm) (1) $60.00 $40.00 ≈ $35.00 $30.00 Future growth $25.00 driven by Odyssey, $20.00 REN, Fenelon, $15.00 Côté & Others $10.00 $5.00 $0.00 2022E 2023E 2024E 2025E
Slide 8: Select Key Asset Updates
Select Key Asset Updates Anchored in Three of the Best Mining Jurisdictions in the World Abitibi Assets Nevada Assets Odyssey(1) Ren Granite Jerritt Creek Canyon Ren Fenelon Granite Creek Fenelon Côté Odyssey Jerritt Canyon Côté goldroyalty.com / NYSE: GROY 1) Currently operated by the Canadian Mala
Slide 9: Odyssey Project Cornerstone Royalty on Canada's Largest Gold Mine
Odyssey Project Cornerstone Royalty on Canada’s Largest Gold Mine Odyssey Project Royalty Overview Operator(1) Location Quebec, Canada 3% NSR over northern part of the Odyssey Gold Royalty Interest project and other surrounding royalties Commodities Au Asset Stage | Est. Start Date Development | Q1
Slide 10: Odyssey Project
Odyssey Project Odyssey Shaft Royalty Coverage Coverage Summary: ▪ 3% NSR over the Odyssey North deposit, the majority of the East Malartic deposit, and a portion of the Norrie Zone. ▪ 1.5% NSR over the Midway project which lies to the east of Odyssey and just south of the Camflo Mine. GROY Royalty
Slide 11: Odyssey Project
Odyssey Project Development on Schedule and Continuing to Grow Recent Updates Development: • Construction and development activities remain on schedule Exploration: • Step-out drilling to the west of East Gouldie had strong results near the Norrie Zone near Gold Royalty’s coverage • Step-out drillin
Slide 12: Odyssey Project
Odyssey Project Odyssey South Expected to Enter Production in 2023 Upcoming Catalysts Q1 2023 Shaft sinking activities expected to commence Q1 2023 Initial production from the Odyssey South ramp expected TBC Agnico / Pan American close acquisition of Yamana TBC Updated Resource / Mine Plan incorpora
Slide 13: Côté Gold Project
Côté Gold Project On track to become one of Canada’s Largest Gold Mines Côté Gold Project Royalty Overview Operator(1) Location Ontario, Canada Gold Royalty Interest 0.75% NSR over southern portion of the mine Commodities Au Asset Stage | Est. Start Date Development | Q1 2024 First 6-year avg.: 495
Slide 14: Côté Gold Project
Côté Gold Project Royalty Zones and Mineralization Côté Mineralization Côté Royalty Zones – GROY Royalty covers Zones 5 & 7 goldroyalty.com / NYSE: GROY 1) Source: IAMGOLD Technical Report on the Côté Gold Project, effective date June 30, 2022 14
Slide 15: Côté Gold Project
Côté Gold Project Construction Advanced and Project Financing Options being addressed Recent Updates Development: • The Project is approximately 64% complete • Approximately 1,500 workers on site, the project is nearing peak capacity Capital Costs: • Estimated attributable remaining project spend to
Slide 16: Côté Gold Project
Côté Gold Project First Gold Pour: Q1 2024 Development Timeline goldroyalty.com / NYSE: GROY 1) Source: IAMGOLD Press Release Nov. 8, 2022 16
Slide 17: Fenelon Gold Project
Fenelon Gold Project Continued Exploration Success Fenelon Gold Project Royalty Overview Operator Location Quebec, Canada 2.0% NSR over the entire Fenelon Gold Gold Royalty Interest Project Commodities Au Asset Stage Advanced Exploration 115,000 meters in 2022 Drilling 445,000 meters since 2017 M&I:
Slide 18: Fenelon Gold Project
Fenelon Gold Project Updated Mineral Resource Estimate and PEA coming soon Recent Updates Exploration: • Current focus on expanding and optimizing the resource for an underground (“UG”) bulk mining operations. • Potential to add and grow Ripley Zone and Area 51 respectively in updated MRE. • Focus o
Slide 19: Ren Project
Ren Project Northern Extension of the Goldstrike Mine Ren Project Royalty Overview Significant Exploration Upside(4): Operator(1) Barrick has classified Ren as a prefeasibility stage asset and outlined exploration upside of 2.0 – 3.5 million ounces at their September Location Nevada, USA Analyst Day
Slide 20: Ren Project
Ren Project Full Coverage Over Key Areas of Mineralization REN Royalty Coverage Goldstrike Mine Infrastructure goldroyalty.com / NYSE: GROY 1) Source: Mining.com Nevada Gold Mines. Image from Barrick. 20 2) Royalty Coverage Map from VEK Associates
Slide 21: Ren Project
Ren Project Resource Growth Expected in 2022 Recent Updates Exploration: • Expanding resources at the significantly sheared JB Zone • Growing confidence in the continuity of mineralization in the Corona Corridor • Results are expected to further expand the resource footprint. • Remaining drilling th
Slide 22: Granite Creek
Granite Creek High-Grade Mine Ramping up Production Granite Creek Royalty Overview Operator Location Nevada, USA Gold Royalty Interest 10.0% NPI(1) Commodities Au Underground Producing, Open Pit in Asset Stage Development Life of Mine(2) 10 Years Underground Mineral Resources M&I: 337 koz (1,008 kt
Slide 23: Granite Creek
Granite Creek Granite Creek Surface Plan View Update Feasibility Study Expected in 2022 Recent Updates Exploration: • 30,000 meter drill program in 2022 discovered the South Pacific Zone. • “The continuity of high-grade mineralization makes the SPZ a priority for development and we look forward to c
Slide 24: Jerritt Canyon
Jerritt Canyon Exploration Investment Fueling Production Ramp Up Jerritt Canyon Royalty Overview Operator Location Nevada, USA Gold Royalty Interest 0.5% NSR and per ton royalty Commodities Au Asset Stage Producing Expected Production(1) 96 – 103 koz expected in 2022 2P: 440 koz (2,529 kt @ 5.41 g/t
Slide 25: Jerritt Canyon
Jerritt Canyon Exploration Investment Fueling Production Ramp Up Recent Updates and Upcoming Catalysts Production • 16,299 ounces produced in Q3, a 13% decrease compared to the prior quarter. • The decrease was primarily due to an annual maintenance overhaul of the dual roasters in September which r
Slide 26: Q&A Contact Us
Q&A Contact Us: Email: info@goldroyalty.com TF: +1 (833) 396-3066 1030 West Georgia Street, Suite 1830, Vancouver, British Columbia, V6E 2Y3 Canada goldroyalty.com / NYSE: GROY 26