Gold Royalty Corp. · AMEX:GROY
Gold Royalty — Investor Presentation (October 2021)
28 slides from Gold Royalty's investor presentation, October 2021
Slide 1: Creating a Leading Growth and Americas-Focused Precious Metals Royalty Company
Creating a Leading Growth and Americas-Focused Precious Metals Royalty Company October 2021 NYSE American: GROY | TSX-V: RZZ | TSX-V: GZZ 1
Slide 2: Cautionary Statement on Forward Looking Statements
Cautionary Statement on Forward Looking Statements Forward-Looking Information Certain of the information contained in this presentation constitutes 'forward-looking information' and ‘forward-looking statements’ within the meaning of applicable Canadian and U.S. securities laws ("forward-looking sta
Slide 3: Cautionary Statement on Forward Looking Statements (cont’d)
Cautionary Statement on Forward Looking Statements (cont’d) Forward-Looking “Financial” Information This presentation contains future oriented financial information (“FOFI”) within the meaning of applicable securities laws about prospective results of operations, financial position or cash flows, ba
Slide 4: Growing a Precious Metals Focused Royalty Company
Growing a Precious Metals Focused Royalty Company Transaction Rationale ✓ Balanced Portfolio of 191 Royalties Across Cash Flowing, Development and Exploration Assets ✓ Cornerstone Royalty on a Portion of Canada’s Largest Gold Mine, Canadian Malartic ✓ Multiple Avenues For Expected Growth (Cash Flow,
Slide 5: Transaction Summary
Transaction Summary • GRC entered into definitive agreements (the “Agreements”) to acquire all of Abitibi common shares (each, a “Abitibi Royalties Share”) and all of Proposed Golden Valley common shares (each, a “Golden Valley Share”) by way of a statutory plan of arrangement (the “Arrangements”) •
Slide 6: High-Quality Royalties Positioned For Growth
High-Quality Royalties Positioned For Growth Balanced Portfolio with 191 Royalties Northwest Territories Peru Colombia Brazil 5 royalties 1 royalty 3 royalties 4 royalties 191 Royalties Ontario 6 7 19 royalties Royalties on Royalties on Alaska Producing Assets in 3 royalties Assets Development 14 15
Slide 7: Canadian Malartic Overview
Canadian Malartic Overview Cornerstone Asset Canadian Malartic Asset Highlights Odyssey Underground Project – Construction Underway “A generational asset where we can demonstrate at least several decades of mine life” - Yamana Malartic truly is a world-class asset – Location, Size, Quality, Longevit
Slide 8: Growing Revenue
Growing Revenue Odyssey, Ren and Fenelon Will Drive Further Growth Gold Royalty Pro Forma Forecasted Revenue ($ mm) $20 Additional Cash Flow Not Included LTM ($ mm) Investment Cash Flow(1) $2.9 Driven by Odyssey Ramp Up, Ren, Fenelon and others -- 2021 PF 2022 PF 2023 PF 2024 PF 2025 & Beyond Illust
Slide 9: Powerful Exploration Growth: Canadian Malartic Underground Potential
Powerful Exploration Growth Canadian Malartic Underground Potential & Royalty Coverage Odyssey Underground Project Canadian Malartic Royalty Coverage Key Highlights • Ramp development is progressing ahead of schedule and at lower unit costs than anticipated • Excavation of the shaft collar and the c
Slide 10: Powerful Exploration Growth: Canadian Malartic Long Section
Powerful Exploration Growth Canadian Malartic Long Section Source: Abitibi Royalties news release (Norrie drill results) dated August 19,2014, Porphyry Swarm Metallogeny of the East Malartic Gold Deposit, Québec and Porphyry 10 Swarm: The High Grade Gold East Malartic Mine, Internal Zone Yamana Gold
Slide 11: Ren – Key Extension Target of the Goldstrike Mine
Powerful Exploration Growth Ren – Key Extension Target of the Goldstrike Mine Key Highlights: Ren – Aerial View: • Lies along the northern extension of the Goldstrike Mine which has produced roughly 60 million ounces of gold • “Ren expansion being targeted from surface and underground platforms” - N
Slide 12: Fenelon – Multi-Million Ounce Potential
Powerful Exploration Growth Fenelon – Multi-Million Ounce Potential Key Highlights: • Along trend with the Detour Lake Mine • Over 300,000 meters of drilling from 2019-2021 combined • Multi-Million Ounce Potential: • Wallbridge provides guidance of ~1.6M – 4.6M ounces at the Tabasco Zone • Other Zon
Slide 13: Powerful Organic Growth Model
Powerful Organic Growth Model Royalty Generator Model Proprietary Royalty Database • Prospecting and staking of properties that are subsequently optioned / • Strategic alliance with Prospector Royalty Corp. (PRC) sold to exploration companies • Opportunity to acquire royalties identified by PRC ‒ Cu
Slide 14: Premier Operating Partners
Premier Operating Partners High Quality Partners on Key Assets Focus on ESG and Sustainability • We choose to partner with operating companies that prioritize industry leading environmental, social and governance (ESG) practices including: • Promote a respectful, fair and inclusive workplace that is
Slide 15: Gold Royalty Pro Forma Snapshot
Gold Royalty Pro Forma Snapshot Commodity Mix – Attributable Royalty NPV Contribution by Portfolio Stage Split Based on Resources Geography Attributable Resources Exploration Development Ag 3% 3% 1% Cu 11% Other Americas Feasibility / Québec PEA Stage 28% 42% 22% Resource Development 50% Au Producin
Slide 16: Peer Leading Positioning
Peer Leading Positioning Market Capitalization ($ mm)(1) Avg. Daily Traded Value ($ mm) – Since GRC IPO(2) (3) $745 $686 $2.7 $2.7 $2.4 $1.8 $413 $349 $317 $278 $272 $152 $0.6 $0.4 $105 $83 $72 $0.2 $23 $0.1 $0.1 $0.1 $0.1 $0.0 Vox EMX Maverix Nomad Elemental Gold Royalty PF Metalla Abitibi Empress
Slide 17: Management and Board
Management and Board Balance of Technical and Capital Markets Experience DAVID GAROFALO Former President & CEO of Goldcorp until its merger AMIR ADNANI Entrepreneur, Founder, President & CEO of Uranium with Newmont in 2019; former President & CEO of Energy Corp, Chairman of GoldMining Inc and Uraniu
Slide 18: Significant Re-Rate Potential
Significant Re-Rate Potential Through Scale, Portfolio Quality and Growth Robust Re-Rate Potential P / NAV (ratio) vs. Market Cap(1) ($ mm) – Log Scale 2.25x ✓ Franco Nevada (2.85x) Long Life Cornerstone Royalty Asset – Canadian Malartic Wheaton PM 2.00x ✓ Enhanced Capital Markets Presence and Tradi
Slide 19: Appendix
Appendix • Pro Forma Key Royalties / Interests • Ely Gold Royalties Re-Rate Case Study 19
Slide 20: GRC Royalty Portfolio: Royalties on Producing Mines
GRC Royalty Portfolio Royalties on Producing Mines MALARTIC OP JERRITT CANYON MARIGOLD ISABELLA PEARL RAWHIDE Location Québec, Canada Nevada, USA Nevada, USA Nevada, USA Nevada, USA Operator Agnico Eagle / Yamana First Majestic Silver SSR Mining Fortitude Gold Rawhide Mining Royalty 3.0% NSR PTR & 0
Slide 21: GRC Royalty Portfolio: Royalties on Assets in Development
GRC Royalty Portfolio Royalties on Assets in Development MALARTIC UG REN GOLD ROCK BEAUFOR BEACON MILL LINCOLN HILL ODYSSEY GOLDSTRIKE PAN MINE BEAUFOR MINE BEAUFOR MINE ROCHESTER MINE Location Québec, Canada Nevada, USA Nevada, USA Québec, Canada Québec, Canada Nevada, USA Operator Agnico Eagle / Y
Slide 22: GRC Royalty Portfolio: Feasibility Study / PEA Level Assets
GRC Royalty Portfolio Royalties on Feasibility Study / PEA Level Assets RAILROAD- FENELON HOG RANCH CHEECHOO SÃO JORGE YELLOWKNIFE PINION Northwest Territories, Location Québec, Canada Nevada, USA Nevada, USA Québec, Canada Brazil Canada Operator Wallbridge Mining Gold Standard REX Minerals Ltd Siri
Slide 23: Royalties on Feasibility Study / PEA Level Assets (cont’d)
GRC Royalty Portfolio Royalties on Feasibility Study / PEA Level Assets (cont’d) LA MINA SLEEPER MT. HAMILTON Location Colombia Nevada, USA Nevada, USA Operator GoldMining Paramount Gold Waterton Resources Royalty 2.0% NSR 0.33% NSR 1.0% NSR Project Stage PEA PEA Feasibility Study Note: Certain asse
Slide 24: GRC Royalty Portfolio: Royalties on Resource Development Assets
GRC Royalty Portfolio Royalties on Resource Development Assets TITIRIBI YARUMALITO WHISTLER CRUCERO QUARTZ MTN. CROINOR GOLD Location Colombia Colombia Alaska, USA Peru Oregon, USA Québec, Canada Operator GoldMining GoldMining GoldMining GoldMining Alamos Gold Monarch Mining Royalty 2.0% NSR 1.0% NS
Slide 25: Royalties on Resource Development Assets (cont’d)
GRC Royalty Portfolio Royalties on Resource Development Assets (cont’d) MCKENZIE SWANSON NEW ALGER ALMADEN CACHOEIRA SURUBIM BREAK Location Québec, Canada Québec, Canada Québec, Canada Idaho, USA Brazil Brazil Operator Monarch Mining Monarch Mining Radisson Mining GoldMining GoldMining GoldMining Ro
Slide 26: GRC Royalty Portfolio: Royalties on Key Exploration Assets
GRC Royalty Portfolio Royalties on Key Exploration Assets RED LAKE MALARTIC WAR EAGLE RODEO CREEK CALLAHAN MENDERES PROJECT SOUTH Location Idaho, USA Nevada, USA Ontario, Canada Québec, Canada Québec, Canada Turkey Operator Integra Resources i-80 Gold Pacton Gold Eagle Ridge Agnico Eagle Frontline G
Slide 27: Royalties on Key Exploration Assets (cont’d)
GRC Royalty Portfolio Royalties on Key Exploration Assets (cont’d) BORDEN LAKE CARLIN PINSON LONE TREE TURQUOISE WATERSHED EXPANSION EXPLORATION EXPLORATION EXPLORATION RIDGE Location Ontario, Canada Ontario, Canada Nevada, USA Nevada, USA Nevada, USA Nevada, USA Operator Newmont IAMGOLD Barrick/New
Slide 28: The Market is Rewarding Value-Added Consolidation
The Market is Rewarding Value-Added Consolidation Ely Gold Merger Re-Rate Market Capitalization ($ mm)(1) Unaffected Market Cap Market Cap at Closing (18-Jun-21) (24-Aug-21) …Instead GRC, on a market adjusted basis, has traded up Assuming GRC and Ely traded resulting in a +37% ($119 mm) market adjus