Company: GROY-WT
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0000950170-25-042306
Chunk: 114

Company: Gold Royalty Corp.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 19
Chunk 114
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 LP of a copper stream ("Vareš Copper Stream") on the Vareš Mine, operated by a subsidiary of Adriatic Metals plc located in Bosnia and Herzegovina. The Company paid $50,000, consisting of $45,000 satisfied in cash and $5,000 satisfied by issuing2,906,977 GRC shares. The Vareš Copper Stream applies to100% of copper production from the mining area over the Rupice deposit. The Vareš Copper Stream has associated ongoing payments required to be made by the Company equal to30% of the LME spot copper price, with the effective payable copper fixed at24.5%. The ongoing payments during the year ended December 31, 2024 were$268. Transaction costs amounting to $884 were recorded as part of the carrying value of the Vareš Copper Stream.
Other Mineral Interests
On June 18, 2024, the Company acquired mining claims located in Nye County, Nevada for $112. All of these claims were disposed of on June 20, 2024 for proceeds of $112. The Company also retained2% net smelter return (" NSR") on these claims.
Land Agreement Proceeds
During the year ended December 31, 2024, the Company received land agreement proceeds that were credited against other mineral interests, which related to its royalty generator model of$1,663(2023: $1,909).
Summary Of Select Royalties and Stream
The following is a summary of select royalties and a stream owned by the Company as of December 31, 2024:
Asset Interest Jurisdiction
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Streams on Production Stage Assets:
Vareš Mine 100% Copper Stream Bosnia and Herzegovina
Royalties on Production Stage Assets:
Borden Mine (1) 0.5% NSR Ontario, Canada
Canadian Malartic Property (open pit) (1) 2.0% - 3.0% NSR Québec, Canada
Cozamin Mine (1) 1.0% NSR Zacatecas, Mexico
Côté Gold Mine (1) 0.75% NSR Ontario, Canada
Granite Creek 10% Net Profit Interest (" NPI ") Nevada, USA
Royalties on Development Stage Assets:
Canadian Malartic - Odyssey Project (1) (underground) 3.0% NSR Québec, Canada