Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 115

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 115
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Borborema Project 2.0% NSR Rio Grande do Norte, Brazil
REN - Carlin Mines 1.5% NSR Nevada, USA
REN - Carlin Mines (NPI) 3.5% NPI Nevada, USA
Royalties on Exploration and Resource Stage Assets:
Fenelon Gold Project 2.0% NSR Québec, Canada
South Railroad Project (1) 0.44% NSR Nevada, USA
Tonopah West 3.0% NSR Nevada, USA
County Line 3.0% NSR Nevada, USA
Note:
(1)
Royalty applies to only a portion of the property.

5. Long-term investment

As at December 31, 2024, the Company held a long-term investment of$1,390(C$2 million) (2023: $1,587(C$2 million)) representing a12.5% equity interest in Prospector Royalty Corp. ("PRC"), a private company providing preferred access to a proprietary and digitized royalty database. The arrangement includes a royalty referral and granting opportunities to acquire certain royalties identified by PRC.

F-13

Gold Royalty Corp.

Notes to Consolidated Financial Statements

(Expressed in thousands of United States dollars unless otherwise stated)

6. Gold-linked loan
On December 19, 2023 (the "Advance Date"), the Company entered into a definitive agreement with Borborema Inc. (the " Borrower"), providing the Borrower with project financing for its Borborema Project of $10,000. The loan is secured against certain assets of the Borrower, and bears interest at110 ounces of gold per quarter, and is payable through cash settlement or physical delivery of gold. The Borrower has the option to prepay the loan with all interest accrued and unpaid after 24 months following the Advance Date. The Borrower will have the option to elect its choice of payment (the " Prepayment Option").
The loan is classified as a financial asset and measured at fair value through profit or loss in accordance with IFRS 9Financial Instruments. The Prepayment Option has been accounted for as part of the fair value of the loan in accordance with IFRS 9Financial Instruments. The fair value of the loan is remeasured on the reporting date and the change in fair value is recognized in the consolidated statements of comprehensive loss.
As at December 31, 2024, the fair value of the loan has