Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 44

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 4
Chunk 44
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 Malartic mine during an average climatic year (in terms of precipitation). Results of this hydrological balance indicate that excess water from the southeast pond may have to be released into the environment. If excess water does need to be treated, a water treatment plant is in place to treat the water that will be released into the environment so that it meets water quality requirements. In addition to ensuring effluent compliance, this water treatment plant reduces the risks associated with surface water management and adds flexibility to the water usage system.
 Annual Production Information
The following table sets forth annual production information for the Canadian Malartic Property and is based upon information provided to us by the operator of the project. It contains only production information related to our royalty interests and does not include greater production at the property disclosed by the operator in respect of areas not covered by our interests.

                                          For the year ended        For the year ended
                          Units            December 31, 2024         December 31, 2023
Processed (100% basis)    (tonnes)                20,317,263                19,583,538
Grades                    Au (g/t)                      1.09                      1.15
                          Ag (g/t)                      0.68                      1.01
Metallurgical Recovery    Au (%)                        92.3                      92.7
                          Ag (%)                        68.6                      72.2
Royalty Coverage          (%)                          4.044                     1.875
Attributable Production   Au (oz)                     25,519                    12,722
                          Ag (oz)                     12,457                     6,600
 The gold produced at the Canadian Malartic mine is refined to market delivery standards by external refiners. The gold is sold to various banks at market prices. Canadian Malartic GP believes that, because of the availability of alternative refiners, no material adverse effect would result if it lost the services of its current refiner. There are no deleterious elements in the gold produced.
 Recent Developments
 See "Item 5. Operating and Financial Review and Prospects" for further information regarding the Canadian Malartic Property.