Gold Royalty Corp. (GROY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and welcome to the Gold Royalty Corp second quarter 2025 results conference call. All participants will be in a 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 also note today's event is being recorded. At this time, I would like to turn the conference call over to David Garofalo, chair and CEO. Sir, please go ahead. Thank you, operator. Good morning, ladies and gentlemen, and thank you for participating in today's call to review our second quarter 2025 results. Please note, 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 on today's call will be Andrew Goebbels, Chief Financial Officer, and Jacqui Price-Belowski, Vice President, Capital Markets. We are proud to report that this quarter we have firmly reached our inflection point, achieving positive free cash flow and another record quarterly revenue adjusted EBITDA and operating cash flow. We also continue to expect steady improvement over the coming quarters through the successful ramp-ups of several of our key assets, including Boris, which achieved commercial production on July 1st, Cote, which announced on June 23rd that it had reached its steady state run rate, and Borborema, which started operations on March 28th and continues to progress towards commercial production later this year. Growing cash flows and revenues. continue to im...