Gold Royalty Corp.

GROY · ARCA

goldroyalty

$727.5M

USD

Market cap · 2026–08 · week 33

🇨🇦 Canada, Vancouver

Country

Royalties & Streaming

Sector

Gold · Junior / Minor · Royalty · Canada · USA · Brazil

Last updated 21 June 2026

Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.

Overview: Gold Royalty Corp. is a precious-metals-focused royalty and streaming company headquartered in Vancouver, Canada, with portfolio exposure primarily across the Americas and Europe. The portfolio composition includes 8 cash-flowing royalties and streams, 12 development royalties, and 238 exploration royalties. Key assets include the Canadian Malartic Complex, the Cote Gold Mine, the Borborema Mine, and the Vares Mine. The business model focuses on acquiring royalties, streaming, and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near-, medium-, and longer-term returns without the direct financial exposure to exploration, development, operating, and sustaining capital expenditures typically associated with mining projects. The company also employs a royalty-generator model to acquire mineral properties and subsequently option or sell them to third-party mining companies while retaining a royalty or carried interest. A defining competitive characteristic is the company's balanced, life-cycle-spanning royalty portfolio combined with its royalty-generator model. The combination of cash-flowing, development, and exploration interests supports a diversified, growth-oriented income model. The business remains subject to commodity price cycles and the operational performance of third-party operators.

Strategy: Strategic focus centers on expanding the portfolio through the acquisition of existing or newly created royalties, streaming, or similar interests, and through accretive acquisitions of companies that hold such assets. The enterprise intends to act as a source of financing to mining companies for the development and exploration of projects. A core objective is to complement the acquisition strategy by continuing to implement the royalty-generator model, which provides a relatively low-cost method of adding potential future upside by adding interests on exploration-stage projects. Capital allocation is prioritized to seek accretive precious-metals assets that enhance the overall portfolio and increase net-asset value per share, using a disciplined approach to manage its fiscal profile and maintain low overhead costs. This combination of acquisition-led growth, project financing, and the royalty-generator model underpins the company's strategy. The cash-flowing royalties on the Canadian Malartic and Cote Gold complexes anchor the company's near-term revenue. The development and exploration interests support the company's longer-term growth. The low-overhead model supports the company's focus on net-asset-value per share. The financing role positions the company as a capital provider to mining developers.

Management: Executive leadership is headed by Chairman, Chief Executive Officer, and President David Garofalo, an experienced executive with over 35 years in the natural-resources sector, including prior roles as President and Chief Executive Officer of Goldcorp Inc. and Hudbay Minerals Inc. The 6-member Board of Directors includes 5 independent directors and oversees corporate strategy through 4 standing committees: Audit, Compensation, Nominating and Corporate Governance, and ESG. Governance practices emphasize a disciplined approach to evaluating opportunities, assessing environmental, social, and governance factors as part of the due-diligence process. The leadership team's deep precious-metals and capital-markets experience supports the company's acquisition-and-generator strategy. Board oversight of ESG matters reflects the company's integration of sustainability into its investment process. This governance structure keeps capital discipline and accretive growth central to executive accountability. The dedicated ESG Committee reinforces the company's responsible-investment approach. The leadership team's experience at major gold producers supports the company's deal evaluation. The strong independent representation reinforces objective oversight of the company's strategy.

Sustainability: The organization's sustainability framework is guided by an ESG and Sustainability Policy, a Supplier Code of Conduct, and an Anti-Corruption Policy. The company integrates environmental, social, and governance due diligence into its investment-management processes, evaluating water management, tailings and waste management, biodiversity, climate change, health and safety, community engagement, and human rights. The enterprise publishes an annual sustainability report and measures its financed emissions, reporting total Scope 3 financed emissions of 2,487.63 tonnes of carbon-dioxide-equivalent for 2024. Community investment includes the Gold Royalty Exploration and Development Scholarship and contributions to the Vancouver Symphony Orchestra. These initiatives connect the company's due-diligence framework with measurable financed-emissions and community outcomes. The integration of ESG into investment management reflects the company's emphasis on responsible counterparty selection. The measurement of financed emissions illustrates the company's focus on transparency in its portfolio's climate footprint. The scholarship and community contributions reflect the company's local engagement.

Structure: Corporate development has been shaped by acquisitions including the purchase of Ely Gold Royalties Inc. in August 2021 for 30.9 million shares and $65 million in cash, and the acquisitions of Golden Valley Mines and Royalties Ltd. and Abitibi Royalties Inc. in November 2021. In December 2025, the entity acquired the Pedra Branca Royalty from Blackrock World Mining Trust plc for $70 million in cash. In January 2026, the company acquired an additional royalty on the Borborema mine from Dundee Corporation for $30 million in cash and 3.57 million shares. A strategic investor, Tether Investments, S.A. de C.V., holds approximately 13.13% of the outstanding common shares, while GoldMining Inc. holds 9.33%. Material operational subsidiaries include Ely Gold Royalties Inc., Nevada Select Royalty, Inc., and Gold Royalty Holdings Ltd. These arrangements built the company's diversified royalty portfolio and strategic-investor base. The Ely Gold, Golden Valley, and Abitibi acquisitions established the company's foundational portfolio. The recent Borborema and Pedra Branca additions deepened the company's cash-flowing royalty base. The Tether and GoldMining shareholdings provide the company with strategic-investor support.

Hedge: The company maintains an unhedged posture across commodity, foreign-exchange, and interest-rate exposures. No commodity, foreign-exchange, or interest-rate hedges were outstanding as of December 31, 2025. This unhedged stance gives investors direct exposure to precious-metals prices through the company's royalty and streaming interests, consistent with its preference for full price participation. As a royalty and streaming company without direct operating or capital cost obligations, the company manages its exposure through portfolio diversification and disciplined capital allocation rather than through a financial-derivative hedging program.

Source: Gold Royalty Corp. - Form 20-F - 2025

Stream Operating · 1 project

Vareš Mine

Asset · Stream · Operating

Bosnia And Herzegovina, Zenica-Doboj Canton

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Project information

As at 31 December 2024

Type: Stream

Aggregation level: Asset

Status: Operating

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: DPM Metals Inc.

Extraction: Underground

Country: Bosnia and Herzegovina

Region: Zenica-Doboj Canton

Interest conditions: 100% copper stream on the Rupice deposit. Ongoing payments equal to 30% of the LME spot copper price, with effective payable copper fixed at 24.5%.

Description

As at 31 December 2024

100% copper stream on the Vareš silver mine operated by DPM Metals. The project consists of 41 km2 of concession area, centered around the town of Vareš.

Stream interests

As at 31 December 2024 · inclusive

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Royalty Operating · 9 projects

Canadian Malartic Complex

Asset · Royalty · Operating

Canada, Québec, Abitibi Greenstone Belt

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Agnico Eagle Mines Ltd.

Extraction: Open Pit Underground

Country: Canada

Region: Québec

Geological province: Abitibi Greenstone Belt

Interest conditions: 3.0% NSR on portions of Odyssey, East Malartic, Sladen, Sheehan, and Jeffrey zones; 2.0% NSR on Charlie and Gouldie zones; 1.5% NSR on Midway Project (1.0% buyback for $1M); 15.0% NPI on Radium Property.

Description

As at 31 December 2024

Gold Royalty holds multiple royalties over the Canadian Malartic Complex, including the open pit and the Odyssey underground mine. The operation is transitioning from open-pit to primarily underground operations.

Royalty interests

As at 31 December 2024 · exclusive

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Reserves & resources — detail

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Granite Creek Royalty (Nevada Gold Mines)

Asset · Royalty · Operating

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Nevada Gold Mines LLC

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 4.0% NSR Au on Granite Creek area

Description

gold royalty interest operated by Nevada Gold Mines LLC in Nevada, United States. Terms: 4.0% NSR Au on Granite Creek area. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Bald Mountain (Kinross)

Asset · Royalty · Operating

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Kinross Gold Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Au on Bald Mountain

Description

gold royalty interest operated by Kinross Gold Corporation in Nevada, United States. Terms: 2.0% NSR Au on Bald Mountain. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Borborema Mine

Asset · Royalty · Operating

Brazil, Rio Grande do Norte

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Aura Minerals Inc.

Extraction: Open Pit

Country: Brazil

Region: Rio Grande do Norte

Interest conditions: 2.0% NSR decreasing to 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.

Description

As at 31 December 2024

2.0% NSR royalty over the Borborema Gold Mine. The mine consists of an open pit operation that declared commercial production in September 2025.

Royalty interests

As at 31 December 2024 · inclusive

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Briggs

Asset · Royalty · Operating

United States, California

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: ENECo, Inc.

Extraction: Open Pit

Country: United States

Region: California

Interest conditions: 1.5% NSR Au on Briggs mine

Description

gold royalty interest operated by ENECo, Inc. in California, United States. Terms: 1.5% NSR Au on Briggs mine. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Bald Mountain JV

Asset · Royalty · Operating

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Kinross Gold Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 1.25% NSR Au on Bald Mountain JV area

Description

gold royalty interest operated by Kinross Gold Corporation in Nevada, United States. Terms: 1.25% NSR Au on Bald Mountain JV area. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Cozamin Mine

Asset · Royalty · Operating

Mexico, Zacatecas

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Capstone Copper Corp.

Extraction: Open Pit

Country: Mexico

Region: Zacatecas

Interest conditions: 1.0% NSR Cu/Ag on southeastern portion of Cozamin mine (Calicanto and Mala Noche veins)

Description

copper, silver royalty interest operated by Capstone Copper Corp. in Zacatecas, Mexico. Terms: 1.0% NSR Cu/Ag on southeastern portion of Cozamin mine (Calicanto and Mala Noche veins). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Marigold Mine

Asset · Royalty · Operating

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: SSR Mining Inc.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 0.75% NSR Au on Marigold mine

Description

gold royalty interest operated by SSR Mining Inc. in Nevada, United States. Terms: 0.75% NSR Au on Marigold mine. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Borden Mine

Asset · Royalty · Operating

Canada, Ontario

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Project information

Type: Royalty

Aggregation level: Asset

Status: Operating

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Discovery Silver Corp.

Extraction: Open Pit

Country: Canada

Region: Ontario

Interest conditions: 0.5% NSR Au on southern portion of underground Borden gold mine

Description

gold royalty interest operated by Discovery Silver Corp. in Ontario, Canada. Terms: 0.5% NSR Au on southern portion of underground Borden gold mine. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalty Development · 9 projects

Tonopah West

Asset · Royalty · Development

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Blackrock Silver Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 3.0% NSR on high-grade Tonopah West Ag project

Description

silver, gold royalty interest operated by Blackrock Silver Corp. in Nevada, United States. Terms: 3.0% NSR on high-grade Tonopah West Ag project. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Hog Ranch

Asset · Royalty · Development

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: MACH Metals Australia Pty Ltd

Country: United States

Region: Nevada

Interest conditions: 2.25% NSR Royalty; 0.75% buyback for $0.75M.

Description

Gold Royalty owns a 2.25% NSR royalty over the Hog Ranch gold development project in northwest Nevada, operated by MACH Metals Australia Pty Ltd. The geological setting is a large caldera complex with four mineralization zones.

Royalty interests

As at 31 December 2024

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Bullfrog South

Asset · Royalty · Development

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Augusta Gold Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Au on Bullfrog South

Description

gold royalty interest operated by Augusta Gold Corp. in Nevada, United States. Terms: 2.0% NSR Au on Bullfrog South. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Butte Highlands

Asset · Royalty · Development

United States, Montana

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Butte Highlands JV

Extraction: Open Pit

Country: United States

Region: Montana

Interest conditions: 2.0% NSR Au on Butte Highlands JV

Description

gold royalty interest operated by Butte Highlands JV in Montana, United States. Terms: 2.0% NSR Au on Butte Highlands JV. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Lincoln Hill

Asset · Royalty · Development

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: -

Ownership %: 0

Operator: No

Operator name: Coeur Mining Inc.

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Royalty.

Description

Gold Royalty 2.0% NSR royalty over the Lincoln Hill project in Nevada operated by Coeur Mining, Inc. The Lincoln Hill project is an extension of the Rochester mine, which is an open pit heap leach silver and gold operation hosted in the Triassic Rochester Formation.

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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REN Project

Asset · Royalty · Development

United States, Nevada (Carlin Trend)

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Project information

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Barrick Mining Corp.

Extraction: Open Pit

Country: United States

Region: Nevada (Carlin Trend)

Interest conditions: 1.0% NSR Au (REN deposit within Carlin Complex)

Description

gold royalty interest operated by Barrick Mining Corporation in Nevada (Carlin Trend), United States. Terms: 1.0% NSR Au (REN deposit within Carlin Complex). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Gold Rock

Asset · Royalty · Development

United States, Nevada, Battle Mountain-Eureka Trend

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Project information

As at 31 March 2020

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Equinox Gold Corp.

Country: United States

Region: Nevada

Geological province: Battle Mountain-Eureka Trend

Interest conditions: 0.5% NSR Royalty.

Description

As at 31 March 2020

Gold Royalty owns a 0.5% NSR royalty over part of the Gold Rock project in Nevada, operated by Equinox Gold. The project is envisioned as an open pit operation utilizing heap-leach extraction for gold recovery.

Royalty interests

As at 31 March 2020 · exclusive

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Reserves & resources — detail

As at 31 March 2020

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Jerritt Canyon

Asset · Royalty · Development

United States, Nevada

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: -

Ownership %: 0

Operator: No

Operator name: First Majestic Silver Corp.

Country: United States

Region: Nevada

Interest conditions: 0.5% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 0.5% NSR royalty over the Jerritt Canyon project in Nevada, operated by First Majestic Silver Corp.

Royalty interests

As at 31 December 2024 · exclusive

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Sleeper

Asset · Royalty · Development

United States, Nevada

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Project information

As at 30 June 2023

Type: Royalty

Aggregation level: Asset

Status: Development

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Paramount Gold Nevada Corp.

Country: United States

Region: Nevada

Interest conditions: 0.33% NSR Royalty.

Description

As at 30 June 2023

Gold Royalty owns a 0.33% NSR royalty over a portion of the Sleeper gold project, a past producing open pit gold mine located in Nevada, operated by Paramount Gold Nevada Corp.

Royalty interests

As at 30 June 2023 · exclusive

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Reserves & resources — detail

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Royalty Exploration · 33 projects

Cheechoo

Asset · Royalty · Exploration

Canada, Québec

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Project information

As at 20 July 2022

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Sirios Resources Inc.

Country: Canada

Region: Québec

Interest conditions: 2.5%-4.0% NSR Royalty; rate adjusts based on gold price (4.0% if >$3,000/oz, 3.5% if $2,400-$3,000/oz, 3.0% if $1,200-$2,400/oz, 2.5% if <$1,200/oz).

Description

As at 20 July 2022

Gold Royalty owns a 2.5%-4.0% NSR royalty over the Cheechoo gold project in the James Bay region of Quebec, operated by Sirios Resources Inc. The property consists of 225 claims covering 118km2.

Royalty interests

As at 20 July 2022 · exclusive

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Reserves & resources — detail

As at 20 July 2022

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Beowawe

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Barrick Mining Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 3.0% NSR Au on Beowawe area

Description

gold royalty interest operated by Barrick Mining Corporation in Nevada, United States. Terms: 3.0% NSR Au on Beowawe area. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Big Ten - Danbo

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: VR Resources Ltd.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 3.0% NSR Au on Big Ten - Danbo

Description

gold royalty interest operated by VR Resources Ltd. in Nevada, United States. Terms: 3.0% NSR Au on Big Ten - Danbo. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Buckskin

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Platoro West Inc.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 3.0% NSR Au on Buckskin (optioned)

Description

gold royalty interest operated by Platoro West Inc. in Nevada, United States. Terms: 3.0% NSR Au on Buckskin (optioned). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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County Line

Asset · Royalty · Exploration

United States, Nevada

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: Fortitude Gold Corp.

Country: United States

Region: Nevada

Interest conditions: 3.0% NSR Royalty; 1.0% buyback for $1M.

Description

As at 31 December 2024

Gold Royalty 3.0% NSR royalty over the County Line project in Nevada operated by Fortitude Gold Corporation.

Royalty interests

As at 31 December 2024 · exclusive

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Croinor Gold

Asset · Royalty · Exploration

Canada, Québec

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: Probe Gold Inc.

Country: Canada

Region: Québec

Interest conditions: 2.75% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 2.75% NSR royalty over the Croinor Gold project in Québec operated by Probe Gold Inc.

Royalty interests

As at 31 December 2024 · exclusive

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Big Ten - Amsel

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: VR Resources Ltd.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Au on Big Ten - Amsel

Description

gold royalty interest operated by VR Resources Ltd. in Nevada, United States. Terms: 2.0% NSR Au on Big Ten - Amsel. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Bigshot

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Barrick Mining Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Au on Bigshot

Description

gold royalty interest operated by Barrick Mining Corporation in Nevada, United States. Terms: 2.0% NSR Au on Bigshot. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Eastside

Asset · Royalty · Exploration

United States, Nevada

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Project information

As at 30 July 2021

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Allegiant Gold Ltd.

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Royalty; 1% buyback for $2.5M.

Description

As at 30 July 2021

Gold Royalty owns a 2.0% NSR royalty over the Castle and Black Rock zones of the Eastside gold-silver project in Nevada, operated by Allegiant Gold Ltd.

Royalty interests

As at 30 July 2021

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Reserves & resources — detail

As at 30 July 2021

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Frace

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Barrick Mining Corp.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 2.0% NSR Au in Nevada (Barrick-operated)

Description

gold royalty interest operated by Barrick Mining Corporation in Nevada, United States. Terms: 2.0% NSR Au in Nevada (Barrick-operated). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Rodeo Creek

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: Nevada Gold Mines

Country: United States

Region: Nevada

Interest conditions: 2% NSR Royalty.

Description

Gold Royalty 2% NSR royalty over the Rodeo Creek project in Nevada, operated by Nevada Gold Mines.

Royalty interests

As at 31 December 2024

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Titiribi (GROY Royalty)

Asset · Royalty · Exploration

Colombia, Antioquia

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Colombia

Region: Antioquia

Interest conditions: 2.0% NSR on Titiribi (GoldMining)

Description

gold, copper royalty interest operated by GoldMining Inc. in Antioquia, Colombia. Terms: 2.0% NSR on Titiribi (GoldMining). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Turquoise Ridge

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: Nevada Gold Mines

Country: United States

Region: Nevada

Interest conditions: 2% NSR Royalty.

Description

Gold Royalty 2% NSR royalty over the Turquoise Ridge project in Nevada, operated by Nevada Gold Mines.

Royalty interests

As at 31 December 2024

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Alpha Project

Asset · Royalty · Exploration

Canada, Québec, Abitibi Greenstone Belt

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Agnico Eagle Mines Ltd.

Country: Canada

Region: Québec

Geological province: Abitibi Greenstone Belt

Interest conditions: 1.5% NSR and 20% FCI; 0.5% buyback for C$1M.

Description

Gold Royalty owns a 1.5% NSR and 20% FCI over the Centremaque prospect near the Bulldog target at the Alpha project in Quebec, operated by Agnico Eagle.

Royalty interests

As at 31 December 2024

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Lone Tree

Asset · Royalty · Exploration

United States, Nevada

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: i-80 Gold Corp.

Country: United States

Region: Nevada

Interest conditions: 1.5% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 1.5% NSR royalty over a portion of the Lone Tree project in Nevada, operated by i-80 Gold Corp.

Royalty interests

As at 31 December 2024 · exclusive

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Reserves & resources — detail

As at 31 December 2024

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Quartz Mountain

Asset · Royalty · Exploration

United States, Oregon

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: Alamos Gold Inc.

Country: United States

Region: Oregon

Interest conditions: 0.25% NSR and 1.0% NSR Royalties.

Description

As at 31 December 2024

Gold Royalty mixed NSR royalty over the Quartz Mountain project in Oregon operated by Alamos Gold Inc.

Royalty interests

As at 31 December 2024 · exclusive

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Reserves & resources — detail

As at 31 December 2024

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Batistao

Asset · Royalty · Exploration

Brazil, Mato Grosso

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Brazil

Region: Mato Grosso

Interest conditions: 1.0% NSR Au on Batistao

Description

gold royalty interest operated by GoldMining Inc. in Mato Grosso, Brazil. Terms: 1.0% NSR Au on Batistao. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Boa Vista

Asset · Royalty · Exploration

Brazil, Pará

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Brazil

Region: Pará

Interest conditions: 1.0% NSR Au on Boa Vista

Description

gold royalty interest operated by GoldMining Inc. in Pará, Brazil. Terms: 1.0% NSR Au on Boa Vista. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Cachoeira

Asset · Royalty · Exploration

Brazil, Pará

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Country: Brazil

Region: Pará

Interest conditions: 1.0% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 1.0% NSR royalty over the Cachoeira project in Pará, Brazil operated by GoldMining Inc.

Royalty interests

As at 31 December 2024 · exclusive

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Reserves & resources — detail

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Cachoeira (GROY Royalty)

Asset · Royalty · Exploration

Brazil, Pará

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Brazil

Region: Pará

Interest conditions: 1.0% NSR Au on Cachoeira (GoldMining)

Description

gold royalty interest operated by GoldMining Inc. in Pará, Brazil. Terms: 1.0% NSR Au on Cachoeira (GoldMining). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalties & streams

All royalty and stream interests in the database that refer to this asset by name.

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Crucero

Asset · Royalty · Exploration

Peru, Carabaya

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Country: Peru

Region: Carabaya

Interest conditions: 1.0% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 1.0% NSR royalty over the Crucero project in Carabaya, Peru operated by GoldMining Inc.

Royalty interests

As at 31 December 2024 · exclusive

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Reserves & resources — detail

As at 31 December 2024

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La Mina Project

Asset · Royalty · Exploration

Colombia, Antioquia

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Colombia

Region: Antioquia

Interest conditions: 1.0% NSR on La Mina (GoldMining)

Description

gold, copper royalty interest operated by GoldMining Inc. in Antioquia, Colombia. Terms: 1.0% NSR on La Mina (GoldMining). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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New Alger

Asset · Royalty · Exploration

Canada, Québec, Abitibi Greenstone Belt

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Project information

As at 2 March 2023

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Radisson Mining Resources Inc.

Country: Canada

Region: Québec

Geological province: Abitibi Greenstone Belt

Interest conditions: 1.0% NSR Royalty.

Description

As at 2 March 2023

Gold Royalty owns a 1.0% NSR royalty over a significant portion of the New Alger project in the Abitibi region of Quebec, operated by Radisson Mining Resources Inc.

Royalty interests

As at 2 March 2023 · exclusive

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Reserves & resources — detail

As at 2 March 2023

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Pitt Gold

Asset · Royalty · Exploration

Canada, Québec, Abitibi Greenstone Belt

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Project information

As at 15 September 2023

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: First Mining Gold Corp.

Country: Canada

Region: Québec

Geological province: Abitibi Greenstone Belt

Interest conditions: 1.0% NSR Royalty; 100% buyback for C$1M.

Description

As at 15 September 2023

Gold Royalty owns a 1.0% NSR royalty over the Pitt Gold property, part of the Duparquet project in Quebec, operated by First Mining Gold Corp.

Royalty interests

As at 15 September 2023

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Reserves & resources — detail

As at 15 September 2023

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Surubim

Asset · Royalty · Exploration

Brazil, Pará

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Brazil

Region: Pará

Interest conditions: 1.0% NSR Au on Surubim

Description

gold royalty interest operated by GoldMining Inc. in Pará, Brazil. Terms: 1.0% NSR Au on Surubim. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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São Jorge (GROY Royalty)

Asset · Royalty · Exploration

Brazil, Pará

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Extraction: Open Pit

Country: Brazil

Region: Pará

Interest conditions: 1.0% NSR Au on São Jorge (GoldMining)

Description

gold royalty interest operated by GoldMining Inc. in Pará, Brazil. Terms: 1.0% NSR Au on São Jorge (GoldMining). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Whistler

Asset · Royalty · Exploration

United States, Alaska

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: U.S. GoldMining Inc.

Extraction: Open Pit

Country: United States

Region: Alaska

Interest conditions: 1.0% NSR Au (Cu-Au porphyry — 299Mt @ 0.41g/t Au resource)

Description

gold, copper, silver royalty interest operated by U.S. GoldMining Inc. in Alaska, United States. Terms: 1.0% NSR Au (Cu-Au porphyry — 299Mt @ 0.41g/t Au resource). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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WR Claims

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Coeur Mining Inc.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 1.0% NSR Au on WR Claims (Coeur-operated)

Description

gold royalty interest operated by Coeur Mining Inc. in Nevada, United States. Terms: 1.0% NSR Au on WR Claims (Coeur-operated). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Yarumalito

Asset · Royalty · Exploration

Colombia, Antioquia

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Project information

As at 31 December 2024

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: -

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Country: Colombia

Region: Antioquia

Interest conditions: 1.0% NSR Royalty.

Description

As at 31 December 2024

Gold Royalty 1.0% NSR royalty over the Yarumalito project in Antioquia, Colombia operated by GoldMining Inc.

Royalty interests

As at 31 December 2024

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Reserves & resources — detail

As at 31 December 2024

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Yellowknife

Asset · Royalty · Exploration

Canada, Northwest Territories

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Project information

As at 9 June 2021

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: GoldMining Inc.

Country: Canada

Region: Northwest Territories

Interest conditions: 1.0% NSR Royalty.

Description

As at 9 June 2021

Gold Royalty owns a 1.0% NSR royalty over the Yellowknife gold project in the Northwest Territories, operated by GoldMining Inc. The project spans over 12,239 hectares over the historic Yellowknife Greenstone Belt.

Royalty interests

As at 9 June 2021 · exclusive

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Reserves & resources — detail

As at 9 June 2021

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Mt Hees

Asset · Royalty · Exploration

Canada, Ontario

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: Canadian Gold Corp.

Extraction: Open Pit

Country: Canada

Region: Ontario

Interest conditions: 0.5% NSR Au royalty in Ontario

Description

gold royalty interest operated by Canadian Gold Corp. in Ontario, Canada. Terms: 0.5% NSR Au royalty in Ontario. [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Nutmeg Mountain

Asset · Royalty · Exploration

United States, Idaho

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Project information

As at 22 June 2023

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Ni 43 101

Ownership %: 0

Operator: No

Operator name: NevGold Corp.

Country: United States

Region: Idaho

Interest conditions: 0.5% NSR Royalty.

Description

As at 22 June 2023

Gold Royalty owns a 0.5% NSR royalty over the Nutmeg Mountain gold-silver deposit in Idaho, operated by NevGold Corp.

Royalty interests

As at 22 June 2023 · exclusive

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Reserves & resources — detail

As at 22 June 2023

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RM (Hecla)

Asset · Royalty · Exploration

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Exploration

Report standard: Sec S K 1300

Ownership %: 0

Operator: No

Operator name: Hecla Mining Co.

Extraction: Open Pit

Country: United States

Region: Nevada

Interest conditions: 0.5% NSR Au on RM area (Hecla-operated)

Description

gold royalty interest operated by Hecla Mining Company in Nevada, United States. Terms: 0.5% NSR Au on RM area (Hecla-operated). [Identity row — full extraction queued for supplement pass]

Royalty interests

As at 31 December 2024

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Royalty Suspended · 1 project

Rawhide

Asset · Royalty · Suspended

United States, Nevada

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Project information

Type: Royalty

Aggregation level: Asset

Status: Suspended

Report standard: -

Ownership %: 0

Operator: No

Operator name: Rawhide Mining LLC

Country: United States

Region: Nevada

Interest conditions: 15% NPI Royalty.

Description

Gold Royalty 15% NPI royalty over the Rawhide project in Nevada, operated by Rawhide Mining LLC. Currently under care and maintenance.

Royalty interests

As at 31 December 2024

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Assumptions

The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.

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How to read this tab

MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.

What the Portfolio tab shows

The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.

Concepts in your sector — Royalties & streaming

A royalty is a contractual share of value extracted (NSR, GRR, NPI, sliding-scale, …). A stream delivers a fixed % of production at an agreed (often discounted) price in exchange for upfront capital.
Portfolio shows operator reserves restated on royalty/stream economics (volume × rate). Operator classification (NI 43-101, JORC, NI 51-101, SEC) carries through.
Common terms: Cap (maximum payable); Buy-back (operator repurchase right); AOI (area of interest); Sliding-scale (rate vs commodity price).

Portfolio tab — table guide

Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
Oil & Gas — one row per O&G project (typically a field, licence, play or basin asset), with columns for location, status, primary hydrocarbons, production (with rating), reserves & resources (with rating), costs and estimated lifetime.
Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
Reserves walk — gross (disclosed) — year-by-year reconciliation of the opening balance to the closing balance, broken into Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production and Conversion to developed.
Reserves walk — net change by year — per-year summary of net additions and net deductions across the portfolio.
NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.

Ownership / Working interest

Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Consolidation method — how the issuer accounts for the asset. Separate from how much the company owns (ownership %) and who operates it, this accounting treatment decides whether an asset's figures sit inside the company's reported group totals or are stripped out to a single net line. It applies to operating assets (mines, oil & gas fields, processing facilities) and is left blank for royalties, streams, and company-level portfolio rollups.
Consolidated — the company controls the asset and includes 100% of its figures in the group total; the portion it does not own is carried as a non-controlling interest (NCI). Control is not the same as a majority, so a company can consolidate an asset it holds less than half of. Where ownership is below 100%, the Portfolio shows the NCI percentage (100 minus the company's stake).
Proportionate — a jointly-operated asset the company includes at its own share, line by line; the share is inside the group total.
Equity method — an associate or joint venture shown on a single net line, with its revenue excluded from the group total. This is the usual reason a company's reported total is smaller than the sum of its individual assets; the Portfolio flags the share of a commodity total that is equity-accounted.
Cost / other — a passive or fair-value holding, excluded from the group total.

Units, conversions & reporting standards

Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.

Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.

Gold

Score

Production

Resource base

Grade

1 / 5

0–50 koz Au

0–1 Moz Au

0–1 g/t Au

2 / 5

50–125 koz Au

1–2.5 Moz Au

1–2 g/t Au

3 / 5

125–250 koz Au

2.5–5 Moz Au

2–5 g/t Au

4 / 5

250–500 koz Au

5–10 Moz Au

5–8 g/t Au

5 / 5

≥ 500 koz Au

≥ 10 Moz Au

≥ 8 g/t Au

Silver

Score

Production

Resource base

Grade

1 / 5

0–1 Moz Ag

0–25 Moz Ag

0–50 g/t Ag

2 / 5

1–3 Moz Ag

25–75 Moz Ag

50–100 g/t Ag

3 / 5

3–7 Moz Ag

75–150 Moz Ag

100–200 g/t Ag

4 / 5

7–12 Moz Ag

150–225 Moz Ag

200–300 g/t Ag

5 / 5

≥ 12 Moz Ag

≥ 225 Moz Ag

≥ 300 g/t Ag

Copper

Score

Production

Resource base

Grade

1 / 5

0–50 kt Cu

0–500 kt Cu

0–0.5 % Cu

2 / 5

50–125 kt Cu

500–2 000 kt Cu

0.5–1 % Cu

3 / 5

125–250 kt Cu

2 000–5 000 kt Cu

1–1.5 % Cu

4 / 5

250–500 kt Cu

5 000–10 000 kt Cu

1.5–2 % Cu

5 / 5

≥ 500 kt Cu

≥ 10 000 kt Cu

≥ 2 % Cu

Copper uses kt Cu bands; lb-scale copper resources are converted to kt. Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.

Assumptions

Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.

This company

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