Gold Royalty Corp. (GROY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Gold Royalty Corp fourth quarter 2025 results conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists 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 Mr. David Garofalo, chairman and CEO. Please go ahead, sir. Thank you, operator. Good morning, ladies and gentlemen, and thank you for participating in today's call to review our fourth quarter and 2025 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 of 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, John Griffith, Chief Development Officer, Jackie Prespelowski, Vice President, Capital Markets. Last week, we marked the five-year anniversary of Gold Royalty's IPO. I'm so proud of our team and what we've accomplished in our short history. We started in March 2021 with 18 royalties on non-producing assets and no revenue. Today, we boast a portfolio of 258 royalties and streams, including eight cash-flowing assets, and we continue to selectively acquire accretive assets, including Pedro Branca in late 2025, and an additional royalty in Borborema, as John will walk through shortly. From no revenue in 2021, we've passed through an important inflection point in 2025. We are proud to report a third consecutive quarter of positive ...