Gold Royalty Corp. (GROY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Gold Royalty Corps Second Quarter 2026 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, Chair 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 second quarter 2026 results. Please note, for those not currently on the webcast, a presentation accompanying this conference call is available on the presentations page of our website. Some of the commentary in 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. All dollar values in today's call are expressed in U.S. dollars, unless otherwise noted. Speaking alongside me this morning will be our President, John Griffith, Andrew Gubbels, Chief Financial Officer, and Jackie Przybylowski, Vice President, Capital Markets and State Sustainability. For the first quarter in several years, the gold price was down, falling by 13%, or nearly $600 per ounce, in the second quarter of 2026. However, to put this price movement in the proper perspective, the commodity was still up strongly year over year by nearly 18%, or over $700 per ounce. Reflecting the risk-off sentiment that has prevailed in our sector since the onset of the Iran War, gold mining equities levered to gold fared even worse than the commodity price. The GDX and the GDXJ Van Ex Gold Miners and Junior Gold Miners ETS each fell 18% in the second ...