The company’s second-quarter performance underscored this momentum, with revenue climbing to $6.7 million—an 80% increase over the same period in 2025. Adjusted EBITDA reached $5.6 million, marking a 137% rise, while the firm maintained a strong liquidity position with $11.3 million in cash and a fully undrawn $150 million credit facility. CEO David Garofalo attributed the success to a portfolio concentrated in high-tier gold and copper assets, noting the firm remains insulated from the inflationary pressures typically seen at mine sites.

Looking toward the second half of 2026, the company expects a series of operational catalysts to sustain its trajectory. Key milestones include the start of construction at the South Railroad project, progress at the Ren mine, and anticipated expansion studies across several assets, including Borborema and the Odyssey mine. Gold Royalty confirmed it remains on track to meet its annual production guidance of 7,500 to 9,300 gold equivalent ounces for the full year.