Gold Royalty Corp. (GROY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Gold Royalty Corp First Quarter 2025 Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to David Garofalo, Chairman and CEO. Please go ahead. Thank you, operator. Good morning, ladies and gentlemen, and thank you for participating in today's call to review our first quarter 2025 results. Please note that for those not currently on the webcast, a presentation accompanying this conference call is available on the presentation page of our website. Some of the commentary on today's call will include forward-looking statements, and I would direct everyone to review slide two of the presentation, which includes important cautionary notes. Speaking alongside me today will be Andrew Goebbels, Chief Financial Officer, and Jackie Prezbolowski, Vice President, Capital Markets. We are very excited about 2025 and believe the company is uniquely positioned for a transformative year. We are proud to report that this quarter we have achieved another record operating cash flow, and we expect to see a steady improvement over the coming quarters to the successful ramp-ups of the Cote, Varus, and Borborema mines. We look forward to continued momentum as production increases towards full nameplate run rates at these operations. We've also benefited from a positive gold price environment. Spot gold prices have reached record highs, recently exceeding $3,300 per ounce, and the fundamentals for gold continue to be supportive of strong gold prices in the near and medium term. At Gold Royalty...