Silver Viper Announces Expiry of Non-Binding LOI

Silver Viper Announces Expiry of Non-Binding LOI

Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) announces that its previously announced non-binding letter of intent (the " LOI ") dated November 6, 2022 as amended December 20, 2022 with Canasil Resources Inc. (TSXV: CLZ) (" Canasil ") has expired in accordance with its terms.

While the Company and Canasil are not proceeding with the transactions contemplated by the LOI following its expiry, the parties may still explore alternative strategic transactions in the future.

For more information on the LOI, please see the Company's news releases dated November 7, 2022 , and December 21, 2022 .

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora . The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS OF Silver Viper,

Steve Cope
President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains forward-looking information under the provisions of applicable Canadian securities legislation. All statements in this news release, other than statements of historical fact, are forward-looking information with respect to Silver Viper including but not limited to: any future transactions between the Company and Canasil. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold, anticipated costs and ability to achieve goals. In respect of the forward-looking statements concerning the anticipated completion of the Proposed Transaction, Silver Viper has provided them in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to negotiate the definitive agreement and complete matters relating to the Proposed Transaction; the ability of the parties to receive, in a timely manner, the necessary shareholder, regulatory, court, corporate and other third party approvals; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Proposed Transaction. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Such factors include, among other things: risks and uncertainties relating to the Proposed Transaction not closing when planned or at all or on terms and conditions set forth in the LOI; the failure to obtain necessary shareholder, court, regulatory and third party approvals in order to proceed with the Proposed Transaction; the benefit of the Proposed Transaction not being realized; the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements and management discussion and analysis (" MD&A ") available on www.sedar.com . The risk factors identified in the financial statements and MD&A are not intended to represent a complete list of factors that could affect the Company. Actual results may differ materially from those currently anticipated in such statements and Silver Viper undertakes no obligation to update such statements, except as required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/silver-viper-announces-expiry-of-non-binding-loi-301735960.html

SOURCE Silver Viper Minerals Corp.

News Provided by PR Newswire via QuoteMedia

VIPR:CA
The Conversation (0)
Silver Viper Minerals Amends Private Placement Financing

Silver Viper Minerals Amends Private Placement Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) announced today that the Company intends to amend its non-brokered private placement financing (the " Amended Offering ") to raise gross proceeds of up to approximately $2,000,000 from the sale of up to 20,000,000 units (" Units ") at a price of $0.10 per Unit, each Unit consisting of one common share of the Company (each, a " Share ") and one warrant (each, a " Warrant "). Each Warrant will entitle the holder thereof to acquire one Share from the Company at a price of $0.20 per Share for a period of 24 months from its date of issue.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver Viper Minerals Updates Size of Private Placement

Silver Viper Minerals Updates Size of Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

S ilver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) announces that in connection with the Company's non-brokered private placement previously announced on November 30, 2023 (the "Offering"), it has updated the maximum size of the Offering to up to 38,636,363 units (the "Units") to raise gross proceeds of up to approximately $4,250,000 from an initial maximum of gross proceeds of up to $5,000,000 . All other terms of the Offering remain unchanged.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver Viper Minerals Files Amended and Restated Offering Document in Connection with Private Placement

Silver Viper Minerals Files Amended and Restated Offering Document in Connection with Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) announces that in connection with the Company's non-brokered private placement previously announced on November 30, 2023 (the "Offering") of up to 45,454,546 units (the "Units") to raise gross proceeds of up to $5,000,000 an amended and restated offering document (the "Offering Document") related to the Offering has been filed and can be accessed under the Company's profile at www.sedarplus.com and on the Company's website at https:silverviperminerals.cominvestors . Prospective investors should read the Offering Document before making an investment decision.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver Viper Minerals Announces $5 Million LIFE Private Placement

Silver Viper Minerals Announces $5 Million LIFE Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) is pleased to announce that the Company intends to undertake a non-brokered private placement financing (the " Offering ") pursuant to the Listed Issuer Financing Exemption (the " LIFE ") of National Instrument 45-106 - Prospectus Exemptions (" NI 45-106 ") to raise gross proceeds of up to $5,000,000 from the sale of up to 45,454,546 units (" Units ") at a price of $0 .11 per Unit. Each Unit will consist of one common share of the Company (each, a " Share ") and one warrant (each, a " Warrant "), each Warrant entitling the holder thereof to acquire one Share from the Company at a price of $0.20 per Share for a period of 24 months from its date of issue.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Silver Viper Further Amends Rubi-Esperanza Option Agreement

Silver Viper Further Amends Rubi-Esperanza Option Agreement

Silver Viper Minerals Corp. (the " Company " or " Silver Viper ") (TSXV: VIPR) (OTC: VIPRF) announced today that, further to its press release April 6, 2023 it has amended the terms of the Rubi-Esperanza Option Agreement (the " Agreement ") with respect to its right to purchase 100% ownership of three mineral concessions covering 2,102 hectares at the La Virginia Gold-Silver Project (" La Virginia " or the " La Virginia Project "), located in the Sierra Madre of eastern Sonora State, Mexico .

Silver Viper Minerals Corp. logo (CNW Group/Silver Viper Minerals Corp.)

The amendment clarifies that the US$775,000 (or C$1,042,142.50 , based on a fixed exchange rate of US$-C$ of 1.3447 set out in the amendment) of Shares issuable by the Company to satisfy as a portion of the final payment under the Agreement in June 2024 , will be issued with a deemed price per Share equal to the higher of (i) the closing price of the Shares on the TSX Venture Exchange on June 24, 2024 or (ii) C$0.095 . In addition, the amendment also sets out that the Company shall not issue more than 10,969,922 Shares in satisfying this portion of the consideration due to the vendors. As previously announced by the Company, in addition to such issuance of Shares, the Company will also make a cash payment of US$200,000 to the vendors.

In satisfaction of the Company's payment of the US$1,500,000 (or C$2,017,050 , based on an exchange rate of US$-C$ of 1.3447) of Shares due to the vendors in April 2023 under the amended Agreement, the Company confirms it issued the vendors an aggregate of 16,808,750 Shares at a deemed price per share of C$0.12 on April 25, 2023 .

All Shares issued in connection with the Agreement will be subject to a statutory 4-month hold period from their respective date of issue. In addition, for a one year period following the expiry of the applicable statutory hold period, the vendors may not sell such Shares and then may only do so after providing at least 2 weeks' notice to the Company of their intention to sell any such Shares.

The vendors are at arm's length to the Company and its Affiliates or Associates (as such terms are defined in the TSXV Corporate Financial Manual).

About the Project

La Virginia is located 220 kilometres east-northeast of Hermosillo, Sonora and is prospective for low-sulphidation epithermal precious metal mineralization. The property and historical exploration database were acquired by way of option agreements made with two distinct parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks, hosted primarily by andesitic volcanics, often in close spatial association to, or cross-cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. Silver Viper's reconnaissance program identified key targets and trends which are of primary interest and subsequently filed strategic reductions in claims to attain the current project surface area of 6,882 hectares.

Silver Viper has completed a total of 141 drill holes at La Virginia for a combined 44,687 metres. Exploration drilling has paused awaiting the processing of the geophysical survey data along with the interpretation of mapping and sampling data. Drilling has been completed by Hermosillo -based drill contractor, Globexplore Drilling Corp. Drilling by the Company to date builds upon a sizeable database of recent historical work.

About the Company

Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora . The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from the most recent operator, Pan American Silver Corp., and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.

ON BEHALF OF THE BOARD OF DIRECTORS,

Steve Cope
President and CEO

Forward Looking Information

Information set forth in this press release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements available on www.sedar.com . Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/silver-viper-further-amends-rubi-esperanza-option-agreement-301963657.html

SOURCE Silver Viper Minerals Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2023/20/c2497.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
GOLD ROYALTY REPORTS 2023 FINANCIAL AND OPERATING RESULTS AND FORECASTS APPROXIMATE 100% GROWTH IN REVENUE IN 2024 DRIVEN BY CORNERSTONE ROYALTIES ENTERING PRODUCTION

GOLD ROYALTY REPORTS 2023 FINANCIAL AND OPERATING RESULTS AND FORECASTS APPROXIMATE 100% GROWTH IN REVENUE IN 2024 DRIVEN BY CORNERSTONE ROYALTIES ENTERING PRODUCTION

Gold Royalty Corp. (" Gold Royalty " or the " Company ") (NYSE American: GROY) is pleased to announce the filing of its operating and financial results for the three months and full year ended December 31, 2023 . All amounts are expressed in U.S. dollars unless otherwise noted.

Gold Royalty Corp. Logo (CNW Group/Gold Royalty Corp.)

David Garofalo , Chairman and CEO of Gold Royalty, commented: "In just three years, we have grown rapidly from 18 development stage royalties to 240 royalties, including 5 producing projects. We feel our portfolio is poised to deliver one of the strongest revenue growth trajectories in the royalty and streaming sector. We executed several important acquisitions in 2023, including the Borborema and Cozamin royalties, which supplement our organic revenue growth from key assets entering and ramping up production, such as Côté and Odyssey. 2024 is expected to be a pivotal year, with approximately 100% growth expected in gold equivalent ounces and positive operating cash flow based on the public forecasts and other disclosure by the owners and operators of our assets. With gold at an all-time high, and several important potential catalysts across our portfolio, we are very excited by the outlook for 2024."

2023 Results Summary:

The following table sets forth selected financial information for the three and full year ended December 31, 2023 :



For three months
ended


For the year ended



December
31, 2023


December
31, 2022


December
31, 2023


December
31, 2022

(in thousands of dollars, except per share and GEO amounts)


($)


($)


($)


($)

Revenue


1,016


582


3,048


3,993

Net loss


(19,360)


(2,204)


(26,756)


(12,709)

Net loss per share, basic and diluted


(0.13)


(0.02)


(0.18)


(0.10)

Operating cash flows before movements in working capital


(995)


(2,315)


(5,049)


(9,604)

Non-IFRS and Other Measures









Total Revenue, Land Agreement Proceeds and Interest*


1,319


1,131


5,216


5,837

Cash Operating Expenses*


(2,017)


(2,940)


(8,004)


(12,580)

Adjusted Net Earnings/(Loss)* (1)


935


(2,824)


(3,965)


(11,254)

Adjusted Net Earnings/(Loss) Per Share, basic and diluted*


0.01


(0.02)


(0.03)


(0.08)

Total Gold Equivalent Ounces (" GEOs ")


667


653


2,703


3,204

(1) Adjusted Net Earnings for the year and quarter ended December 31, 2023, includes $2.3 million deferred tax recovery that was recognized as a result of convertible debt financing. An offsetting deferred tax expense has been recognized directly in equity. See Note 11 of our audited annual consolidated financial statements for the year ended December 31, 2023 for further information.

* See Non-IFRS Measures below.

For further detailed information, please refer to the Company's consolidated financial statements and Annual Report on Form 20-F for the year ended December 31, 2023 , copies of which are available under the Company's profile at www.sedarplus.ca and www.sec.gov .

*Adjusted Net Earnings/(Loss) Per Share, Total Revenue, Land Agreement Proceeds and Interest, GEOs, and Cash Operating Expenses are non-IFRS measures and should not be considered in isolation or as a substitute for analysis of the Company's results under IFRS. See "Non-IFRS Measures" below for further information.

2023 Highlights and 2024 Outlook:

  • The Company currently forecasts between approximately 5,000 and 5,600 GEOs* in 2024, based upon the current disclosed plans of the underlying operators, which equates to approximately $10.0 million to $11.2 million in Total Revenue, Land Agreement Proceeds and Interest at a gold price of $2,000 per ounce. If achieved, this would represent an increase in GEOs of over 100% compared to 2023. Cash Operating Expenses are expected to remain essentially unchanged in 2024. Taken together, this would lead to positive operating cash flow in 2024.

  • Revenue was $3.0 million and Total Revenue, Land Agreement Proceeds and Interest* was $5.2 million (2,703 GEOs) for 2023, which was slightly below guidance primarily due to the continued deferral of production at Canadian Malartic into 2024. Cash Operating Expenses* of $8.0 million were 36% lower than the prior year and within the guidance range on a total and recurring basis.

  • Net loss per share for the fourth quarter ended December 31, 2023 was $0.13 , which included a non-cash impairment charge taken on select non-core assets. Adjusted Net Earnings Per Share for the fourth quarter ended December 31, 2023 were $0.01 compared to an Adjusted Net Loss Per Share of $0.02 in the fourth quarter of 2022.

  • All of the Company's core assets have demonstrated considerable progress in 2023 contributing to what we believe is industry-leading revenue growth through the end of this decade. Côté is expected to commence production imminently; Odyssey continues to ramp up and we will benefit from a full year of revenue in 2024 from our most recent acquisitions, Borborema and Cozamin.
2024 Outlook

The Company currently forecasts between approximately 5,000 and 5,600 GEOs in 2024 which equates to approximately $10.0 million to $11.2 million in Total Revenue, Land Agreement Proceeds and Interest at a gold price of $2,000 per ounce. This represents a midpoint increase in GEOs of approximately 100% relative to 2023. Total GEOs is a non-IFRS financial measure. See "Non-IFRS Measures".

The Company's recurring Cash Operating Expenses are currently expected to be consistent with 2023 and the Company expects to achieve positive operating cash flow in 2024 when a number of its growth projects ramp up in production, including the long-life cornerstone mines at Côté and Odyssey and a full year of cash inflows from the recently acquired Cozamin and Borborema royalties. Cash Operating Expenses is a non-IFRS financial measure. See "Non-IFRS Measures".

The 2024 outlook regarding total GEOs is based on public forecasts, expected development timelines and other disclosure by the owners and operators of the properties underlying our interests and our assessment thereof.

Portfolio Update

Odyssey Project (3.0% NSR over the northern portion of the project): Agnico Eagle Mines Limited (" Agnico Eagle ") owns and operates the Canadian Malartic Complex that is one of the world's largest gold mining operations and is comprised of the open-pit Canadian Malartic mine and the underground Odyssey mine. The Canadian Malartic complex will progressively transition from open pit to underground mining between 2023 and 2028.

On February 15, 2024 , Agnico Eagle announced its full year 2023 results as well as providing an update on 2023 exploration results and 2024 exploration plans. Exploration drilling at the Odyssey mine in 2023 amounted to a total of 131,565 meters which exceeded the budget of 101,500 meters due to a supplemental 25,000 meters of additional drilling. Agnico Eagle reported conversion of mineral resources into inaugural reserves at Odyssey and have stated that with additional exploration they believe mineralization will continue to be added into the existing 20-year mine life with good potential to grow yearly gold production and extend mine life. Specifically, Agnico Eagle stated that continued positive results from the Odyssey internal zones show the potential to add mineral resources with further drilling at shallow depth near existing underground mine infrastructure.

For further information see Agnico Eagle's news release dated February 15, 2024 , available under its profile on www.sedarplus.ca

Côté Gold Project (0.75% NSR royalty over the southern portion of the project): On February 15, 2024 , IAMGOLD Corporation (" IAMGOLD ") announced its 2023 results and provided its outlook for 2024. As of December 31, 2023 , the Côté Gold Project was estimated to be 98% complete construction with production at Côté Gold, on a 100% basis, expected to be between 220,000 and 290,000 ounces for the year. IAMGOLD's estimate assumes initial gold production by the end of March, with a steady ramp up of gold production throughout 2024 with expected commercial production being achieved in the third quarter. Once at steady run-rate, IAMGOLD expects Côté Gold will be Canada's third largest gold mine with an expected mine life exceeding 18 years with additional opportunities for growth.

For further information see IAMGOLD's news release dated February 15, 2024 , available under its profile on www.sedarplus.ca .

Borborema Gold Project (2.00% NSR royalty and gold-linked royalty-convertible loan): On February 20, 2024 , Aura Minerals Inc. (" Aura ") announced its 2023 annual results including an update on construction at the Borborema project. Following commencement of construction in Q3 2023, construction is well underway with 17% completed to date, and production expected to start in early 2025. Gold Royalty expects to receive 1,440 GEOs in 2024 from Aura through fixed pre-production payments associated with the 2.0% NSR royalty and gold-linked coupon payments associated with the gold-linked royalty-convertible loan.

The Borborema royalty decreases to a 0.5% NSR after 725,000 oz of gold production. Subject to a buyback right of the operator, whereby a 0.5% NSR may be repurchased for $2.5 million after the earlier of 2,250,000 oz of production or 2050.

For further information see Aura's news release dated February 20, 2024 , available under its profile on www.sedarplus.ca .

Ren Project (1.5% NSR royalty and 3.5% NPI): On September 12, 2023 , Barrick Gold Corporation (" Barrick ") issued a news release that included an update on the embedded growth projects. It disclosed that at Carlin, Ren was highlighted as an expected continued driver of growth with expected increases in resources and a pre-feasibility study targeted by Barrick for 2026. In its management's discussion and analysis for the year ended December 31, 2023 , Barrick highlighted continued exploration success at the Ren deposit. The step-out surface drilling program intercepted the targeted Corona dike at a depth of approximately 900 meters downhole and returned 4.7 meters at 24.90 g/t Au, which it stated confirmed the continuity of high-grade mineralization and paving the way for underground platform development in the future to convert more material to the west.

For further information see Barrick's news releases dated September 12, 2023 , and management's discussion and analysis for the year ended December 31, 2023 , available under its profile on www.sedarplus.ca .

Granite Creek Mine Project (10.0% NPI): On February 7, 2024 , i-80 Gold Corp (" i-80 ") provided a summary of 2023 activities and 2024 exploration and development plans, including ongoing initiatives at the Granite Creek Mine Project. The South Pacific Zone (" SPZ ") is a priority area of development for i-80 and, and they have announced plans to advance a development plan that will include extending a decline in order to provide access to the SPZ allowing it to become part of Granite Creek mine plan in H1-2024. Ewan Downie , CEO of i-80 stated, "The results from our 2023 definition programs demonstrate the potential for the SPZ to be a significant deposit located on strike from one of North America's largest gold mining operations. Mineralization remains open at depth and along strike to the north with the average intercept grade in the northern extension definition program of approximately 15 g/t gold with true widths ranging up to 15 metres."

For further information see i80's news release dated February 7, 2024 , available under its profile on www.sedarplus.ca .

Cozamin Mine (1.0% NSR over a portion of the mine): On January 24, 2024 , Capstone Copper Corp. (" Capstone ") reported 2023 production and 2024 guidance. Production from Cozamin in 2024 is anticipated by Capstone to be similar to 2023 at 22,000 to 24,000 tonnes of copper on a 100% basis. Operating costs in 2024 are forecasted to be higher than those in 2023 driven by a higher proportion of cut-and-fill mining methods compared to longhole stoping, along with a stronger Mexican peso.

For further information see Capstone's news release dated January 24, 2024 , available under its profile on www.sedarplus.ca .

Royalty Generation Model Update

Our Royalty Generator Model continues to generate positive results with six new royalties added in the year ended December 31, 2023 . We have generated 39 royalties since the acquisition of Ely Gold Royalties Inc. in 2021 through this model.

We currently have 29 properties subject to land agreements and 7 properties under lease generating land agreement proceeds. The model continues to incur low operating costs with only $0.16 million spent on maintaining the mineral interests in 2023.

Investor Webcast

An investor webcast will be held on Thursday, March 28, 2024 , starting at 11:00 am ET ( 8:00 am PT ) to discuss these results. Management will be providing an update to interested stakeholders on the Company's 2023 results including key recent catalysts that have been announced on the assets underlying the Company's royalties. The presentation will be followed by a question-and-answer session where participants will be able to ask any questions they may have of management.

To register for the investor webcast, please use the following link: https://www.bigmarker.com/vid-conferences/Gold-Royalty-Corp-Town-Hall-Forum-Q4

A replay of the webcast will be available on the Gold Royalty website following the presentation.

Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to invest in high-quality, sustainable, and responsible mining operations to build a diversified portfolio of precious metals royalty and streaming interests that generate superior long-term returns for our shareholders. Gold Royalty's diversified portfolio currently consists primarily of net smelter return royalties on gold properties located in the Americas.

Qualified Person

Alastair Still , P.Geo., Director of Technical Services of the Company, is a "qualified person" as such term is defined under Canadian National Instrument 43-101 (" NI 43-101 ") and has reviewed and approved the technical information disclosed in this news release.

Notice to Investors

For further information regarding the project updates regarding properties underlying the Company's interests, please refer to the disclosures of the operators thereof, including the news releases referenced herein. Disclosure relating to properties in which Gold Royalty holds royalty or other interests is based on information publicly disclosed by the owners or operators of such properties. The Company generally has limited or no access to the properties underlying its interests and is largely dependent on the disclosure of the operators of its interests and other publicly available information. The Company generally has limited or no ability to verify such information. Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate.

Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this news release, including any references to mineral resources or mineral reserves, was prepared by the project operators in accordance with Canadian National Instrument 43-101, which differs significantly from the requirements of the U.S. Securities and Exchange Commission ("SEC") applicable to domestic issuers. Accordingly, the scientific and technical information contained or referenced in this news release may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.

Forward-Looking Statements:

Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"), including but not limited to statements regarding: estimated future total GEOs, Total Revenues and Land Agreement Proceeds, Cash Operating Expenses, expected future cash flows; expectations regarding the operations and/or development of the projects underlying the Company's royalty interests, including the estimates of the operators thereof their timing and ability to achieve production; and expectations regarding the Company's growth and statements regarding the Company's plans and strategies. Such statements can be generally identified by the use of terms such as "may", "will", "expect", "intend", "believe", "plans", "anticipate" or similar terms. Forward-looking statements are based upon certain assumptions and other important factors, including assumptions of management regarding the accuracy of the disclosure of the operators of the projects underlying the Company's projects, their ability to achieve disclosed plans and targets, macroeconomic conditions, commodity prices, and the Company's ability to finance future growth and acquisitions. Forward-looking statements are subject to a number of risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by such forward-looking statements including, among others, any inability to any inability of the operators of the properties underlying the Company's royalty interests to execute proposed plans for such properties or to achieved planned development and production estimates and goals, risks related to the operators of the projects in which the Company holds interests, including the successful continuation of operations at such projects by those operators, risks related to exploration, development, permitting, infrastructure, operating or technical difficulties on any such projects, the influence of macroeconomic developments,  the ability of the Company to carry out its growth plans and other factors set forth in the Company's Annual Report on Form 20-F for the year ended December 30, 2023 and its other publicly filed documents under its profiles at www.sedarplus.ca and www.sec.gov . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Non-IFRS Measures

We have included, in this document, certain performance measures, including: (i) Adjusted Net Earnings/(Loss) and Adjusted Net Earnings/(Loss) Per Share; (ii) GEOs; (iii) Total Revenue, Land Agreement Proceeds and Interest; and (iv) Cash Operating Expenses which are each non-IFRS measures. The presentation of such non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently.

  • Adjusted Net Earnings/(Loss) and Adjusted Net Earnings/(Loss) Per Share

Adjusted Net Earnings/(Loss) is calculated by adding land agreement proceeds credited against mineral properties, adding the pre-acquisition royalty revenue received as credited against the Cozamin purchase price and deducting the following from net income: transaction related and non-recurring general administrative expenses (2) , share of (income)/loss and dilution income in associate, impairment, changes in fair value of derivative liabilities, short-term investments and gold-linked loan, loss on loan modification, foreign exchange gain/(loss), other income/(expense) and land agreement proceeds credited against mineral properties. Adjusted Net Earnings/(Loss) includes recognized deferred tax recovery. Adjusted Net Earnings/(Loss) Per Share, basic and diluted have been determined by dividing the Adjusted Net Earnings/(Loss) by the weighted average number of common shares for the applicable period. We included this information as management believes that they are useful measures of performance as they adjust for items which are not always reflective of the underlying operating performance of our business and/or are not necessarily indicative of future operating results. The table below provides a reconciliation of net loss to Adjusted Net Earnings/(Loss) and Adjusted Net Earnings/(Loss) Per Share, basic and diluted for the periods indicated:

(2) Transaction related, and non-recurring general administrative expenses are a supplementary financial measure comprised of operating expenses that are not expected to be incurred on an ongoing basis. During the year ended December 31, 2023, transaction related and non-recurring administrative expenses related primarily to professional fees related to changing our fiscal year-end, tax restructuring following the completion of corporate transactions, establishing a dividend reinvestment and finance programs and select corporate development activities and in the same periods of 2022, related primarily to consulting fees and professional fees associated with corporate transactions.



For three months ended


For the year ended



December
31, 2023


December
31, 2022


December
31, 2023


December
31, 2022

(in thousands of dollars, except per share amounts)


($)


($)


($)


($)

Net loss


(19,360)


(2,204)


(26,756)


(12,709)

Land Agreement Proceeds credited against mineral properties


270


549


1,909


1,844

Pre-acquisition royalty revenue credited against Cozamin purchase price




226


Loan interest


33



33


Transaction related and non-recurring administrative expenses


268


115


967


1,650

Share of (gain)/loss in associate


72


(1)


(172)


152

Dilution gain in associate




(12)


(100)

Impairment of royalties, net of taxes


19,760



19,760


3,018

Change in fair value of derivative liabilities



(278)


(242)


(4,776)

Change in fair value of gold-linked loan


(172)



(172)


Change in fair value of short-term investments


45


(1,060)


264


51

Change in fair value of embedded derivatives


(30)



(30)


Gain on loan modification




249


(316)

Foreign exchange (gain)/loss


55


42


132


11

Other income


(6)


13


(121)


(79)

Adjusted Net Earnings/(Loss)


935


(2,824)


(3,965)


(11,254)

Weighted average number of common shares


145,086,763


143,913,069


144,729,662


136,803,625

Adjusted Net Earnings/(Loss) Per Share, basic and diluted


0.01


(0.02)


(0.03)


(0.08)

  • GEOs

Total GEOs are determined by dividing Total Revenue, Land Agreement Proceeds and Interest by the average gold prices for the applicable period:

(in thousands of dollars, except Average Gold Price/oz and GEOs)


Average Gold
Price/oz


Total
Revenue,
Land
Agreement
Proceeds and
Interest


GEOs

For three months ended March 31, 2022


1,877


1,759


937

For three months ended June 30, 2022


1,874


2,024


1,080

For three months ended September 30, 2022


1,729


923


534

For three months ended December 31, 2022


1,731


1,131


653

For year ended December 31, 2022


1,822


5,837


3,204








For three months ended March 31, 2023


1,889


1,970


1,043

For three months ended June 30, 2023


1,978


557


282

For three months ended September 30, 2023


1,927


1,370


711

For three months ended December 31, 2023


1,977


1,318


667

For year ended December 31, 2023


1,929


5,215


2,703

  • Total Revenue, Land Agreement Proceeds and Interest

Total Revenue, Land Agreement Proceeds and Interest are determined by adding land agreement proceeds credited against mineral properties, the pre-acquisition royalty revenue credited against Cozamin purchase price to total revenue and the gold-linked loan interest. We have included this information as management believes certain investors use this information to evaluate our performance in comparison to other Gold Royalty companies in the precious metal mining industry. Below is a reconciliation of our Total Revenue, Land Agreement Proceeds and Interest to total revenue for the three and year ended December 31, 2023 and 2022, respectively:



For three months ended


For the year ended



December
31, 2023


December
31, 2022


December
31, 2023


December
31, 2022

(in thousands of dollars)


($)


($)


($)


($)

Royalty


758


435


1,964


3,037

Pre-acquisition royalty revenue credited against Cozamin purchase price




226


Advance minimum royalty and pre-production royalty


137


48


646


492

Land agreement proceeds


391


648


2,347


2,308

Loan interest


33



33


Total revenue and land agreement proceeds


1,319


1,131


5,216


5,837

Land agreement proceeds credited against mineral properties


(270)


(549)


(1,909)


(1,844)

Pre-acquisition royalty revenue credited against Cozamin purchase price




(226)


Loan interest


(33)



(33)


Revenue


1,016


582


3,048


3,993

  • Cash Operating Expenses

Cash Operating Expenses are determined by adding the impact of non-cash expenses, revenue, other income and tax expenses or recovery to net loss. We have included this information as management believes certain investors use this information to evaluate our performance in comparison to other Gold Royalty companies in the precious metal mining industry. The table below provides a reconciliation of net loss to Cash Operating Expenses.



For three months ended


For the year ended



December
31, 2023


December
31, 2022


December
31, 2023


December
31, 2022

(in thousands of dollars)


($)


($)


($)


($)

Net loss


(19,360)


(2,204)


(26,756)


(12,709)

Revenue


(1,016)


(582)


(3,048)


(3,993)

Other income


(6)


13


(121)


(79)

Depletion


249


216


943


1,685

Depreciation


20


29


70


92

Share-based compensation


536


1,078


2,806


3,323

Share of (gain)/loss in associate


72


(1)


(172)


152

Dilution gain in associate




(12)


(100)

Impairment of royalties


22,379



22,379


3,821

Change in fair value of derivative liabilities



(278)


(242)


(4,776)

Change in fair value of gold-linked loan


(172)




(172)


51

Change in fair value of short-term investments


45


(1,060)


264


Change in fair value of embedded derivatives


(30)



(30)


Loss on loan modification




249


(316)

Foreign exchange (gain)/loss


55


(1)


132


(32)

Interest expense


814


285


1,839


918

Tax recovery (expenses)


(5,603)


(435)


(6,133)


(617)

Cash Operating Expenses


(2,017)


(2,940)


(8,004)


(12,580)

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/gold-royalty-reports-2023-financial-and-operating-results-and-forecasts-approximate-100-growth-in-revenue-in-2024-driven-by-cornerstone-royalties-entering-production-302101900.html

SOURCE Gold Royalty Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/28/c6875.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
4 Stocks To Watch With Rising Copper Prices

4 Stocks To Watch With Rising Copper Prices

(NewsDirect)

A seismic shift has unfolded in the global copper market following a significant announcement from Chinese smelters. On March 13, these influential entities, responsible for processing half of the world's mined copper, jointly declared a production cut. This decision reverberated through the market, sparking a surge in trading activities.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Silver North Outlines 2024 Tim Silver Property Drilling Program

Silver North Outlines 2024 Tim Silver Property Drilling Program

(TheNewswire)

Silver North Resources Ltd.

Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce plans for the 2024 drilling program at the Tim Property, under option to Coeur Mining, Inc. ("Coeur" NYSE-CDE). Coeur intends to commence exploration on the property in June, and plans to complete approximately 2,000 metres of drilling targeting silver-lead-zinc Carbonate Replacement Deposit ("CRD") mineralization similar to that found at Coeur's Silvertip Mine Property, 19 km to the south of Tim

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
White Gold Corp. Identifies Multiple Prospective IP Chargeability Anomalies on Two Large Multi-Element Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit, Yukon, Canada

White Gold Corp. Identifies Multiple Prospective IP Chargeability Anomalies on Two Large Multi-Element Porphyry Targets in Close Proximity to the Casino Copper-Gold Porphyry Deposit, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to provide an exploration update on the Bridget and Isaac porphyry targets located on the Pedlar and Hayes properties, respectively. Exploration work completed during 2023 included Induced Polarization (IP) chargeability and resistivity survey lines and hyperspectral analysis on 2022 prosecting rock samples. All data collected thus far on these large early-stage targets continue to support a porphyry deposit model.

The Pedlar and Hayes properties are situated in the southern part of the Company's 315,000 hectare (3,150 km 2 ) land package in the White Gold District, west-central Yukon (Figure 1). Western Copper and Gold Corporation's Casino copper-gold-molybdenum porphyry deposit (Measured & Indicated Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold) sits approximately 30 km southwest and 40 km west of the Bridget and Isaac targets respectively. Casino is one of the largest undeveloped copper-gold projects in Canada, and since 2021 has seen strategic investments by major partners including Rio Tinto Canada Inc. and Mitsubishi Materials Corporation. The Pedlar and Hayes properties are also located 40 km and 72 km southeast, respectively, of the Company's flagship White Gold project which contains an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources ( 1) .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Steppe Gold Draw Downs US$40.4M for the Phase 2 Expansion of the ATO Gold Mine

Steppe Gold Draw Downs US$40.4M for the Phase 2 Expansion of the ATO Gold Mine

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce it has reached the next financing milestone for the Phase 2 Expansion at the 100% owned ATO Gold Mine (the "ATO Phase 2 Expansion"). This coincides with further progress on the turnkey engineering, procurement, and construction contract (the "EPC Contract"), and the second project finance draw down of US$40.4m.

Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×