Osisko Reports Q3 2024 Results, by @GlobeNewswire
MONTRÉAL, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) today…
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Highlights
- 18,408 gold equivalent ounces (“GEOs1”) earned (23,292 GEOs in Q3 20232);
- Revenues from royalties and streams of $57.3 million ($62.1 million in Q3 2023), exclusive of 1,595 GEOs earned but not sold due to quarter-end timing;
- Cash flows generated by operating activities of $47.2 million ($43.5 million in Q3 2023);
- Quarterly cash margin3 of 55.1 million or 96.3%;
- Net earnings of $18.3 million, $0.10 per basic share (net loss of $20.0 million, $0.11 per basic share in Q3 2023);
- Adjusted earnings4 of $28.8 million, $0.15 per basic share ($18.3 million, $0.10 per basic share in Q3 2023);
- Repayment of $27.3 million under the revolving credit facility (and repayment of $115.2 million year-to-date in 2024);
- Cash balance of $58.5 million and debt of $80.7 million as at September 30, 2024;
- Acquisition of a 6% gold stream (until 225,000 ounces are delivered, and then 3.6% thereafter) by Osisko Bermuda Limited (“Osisko Bermuda”) on SolGold plc's (“SolGold”) Cascabel copper-gold development project in Ecuador for a total of US$225.0 million, payable upon achieving certain milestones;
- Entered into a binding agreement to acquire a 1.8% gross revenue royalty (“GRR”) from Tembo Capital Mining Fund II (“Tembo”) on Spartan Resources Limited’s Dalgaranga Gold Project (“Dalgaranga”) in Western Australia for US$44 million, and a 1.35% GRR on additional regional exploration licenses in proximity to Dalgaranga from Tembo for US$6 million;
- First delivery of copper received by Osisko Bermuda from Metals Acquisition Limited under the CSA copper stream;
- First payment received from Agnico Eagle Mines Ltd. under the Akasaba West 2.5% NSR royalty (partial coverage);
- Appointment of Ms. Wendy Louie to the Company's Board of Directors as an Independent Director; and
- Declaration of a quarterly dividend of $0.065 per common share paid on October 15, 2024 to shareholders of record as of the close of business on September 30, 2024.
Subsequent to September 30, 2024
- Declaration of a quarterly dividend of $0.065 per common share payable on January 15, 2025 to shareholders of record as of the close of business on December 31, 2024;
- Osisko added to the Solactive Global Silver Miners Total Return Index; the underlying index that is tracked by the Global X Silver Miners ETF (“SIL”), pursuant to the index's semi-annual ordinary adjustment, effective November 1, 2024; and,
- The resignation of Mr. Robert Krcmarov from the Board of Directors in order to assume the role of President & CEO of Hecla Mining Company.
Osisko Declares Fourth Quarter 2024 Dividend, by @GlobeNewswire
MONTREAL, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased…
ceo.ca
