SCHEDULE: Barrick-Affiliated Nevada Gold Mines Exits Gold Royalty Corp. Stake

Nevada Gold Mines LLC, indirectly controlled by Barrick entities, has fully divested its ownership in Gold Royalty Corp., marking an exit from its prior significant stake.

Summary

• Nevada Gold Mines LLC, along with its indirect parent entities including various Barrick subsidiaries, has fully disposed of all common stock shares in Gold Royalty Corp.
• The divestment occurred during the three months ended December 31, 2025.
• As of December 31, 2025, the reporting persons beneficially own 0 shares, representing 0% of Gold Royalty Corp.'s common stock.
• This Schedule 13G Amendment No. 1 serves as a final amendment and an exit filing for the reporting persons, indicating they are no longer a 5% or greater beneficial owner.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative development for Gold Royalty Corp. The complete exit of a major, industry-aligned shareholder like Nevada Gold Mines LLC could signal reduced institutional confidence or a strategic re-prioritization by the divesting entities, potentially impacting investor sentiment.

Negatives

• A significant institutional investor, Nevada Gold Mines LLC (indirectly Barrick-affiliated), has fully divested its stake in Gold Royalty Corp., potentially signaling a lack of long-term conviction or a strategic portfolio reallocation.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Gold Royalty Corp.'s future performance or operations.

Management Comments

• Nevada Gold Mines LLC disposed of all shares of common stock of Gold Royalty Corp. during the three months ended December 31, 2025.
• This Amendment is the final amendment to the Schedule 13G and constitutes an exit filing for the Reporting Person.
• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

StockSavvy.ai notes that the full divestment by Nevada Gold Mines LLC, a major joint venture between Barrick Gold and Newmont, from Gold Royalty Corp. could be interpreted in several ways within the gold industry. It might reflect a strategic decision by the Barrick-affiliated entities to streamline their investment portfolio, focus on core mining operations, or reallocate capital to other opportunities. While not necessarily a direct commentary on Gold Royalty Corp.'s fundamentals, the exit of a significant, industry-aligned shareholder could lead to questions about the long-term institutional support for the royalty company.

Stakeholder Impact

• Shareholders: Existing shareholders may experience negative sentiment and potential downward pressure on the stock price due to the exit of a large institutional investor.

Key Dates

Recommendation

The complete divestment by a major institutional investor, Nevada Gold Mines LLC (indirectly affiliated with Barrick Gold), from Gold Royalty Corp. is a significant negative signal. Such an exit often indicates a lack of long-term conviction or a strategic re-evaluation by a sophisticated player, which could lead to decreased institutional support and potential downward pressure on the stock price. While not a direct commentary on Gold Royalty Corp.'s operational performance, the loss of a large, industry-aligned shareholder suggests a 'sell' recommendation for investors to consider re-evaluating their position.

Keywords

Gold Royalty Corp, Nevada Gold Mines, Barrick, Share Divestment, Institutional Ownership, SEC Filing, Schedule 13G, Mining, Gold Royalties