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Osisko Gold Royalties Announces Preliminary Q2 2021 Deliveries and Provides Asset Update
MONTREAL, July 12, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its se
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTREAL, July 12, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its second quarter deliveries, sales and operating cash margins1 and recent asset advancements. PRELIMINARY Q2 2021 RESULTS Osisko earned approximately 20,178 attributable gold equivalent ounces2 (“GEOs”) in the second quarter of 2021, excluding GEOs earned from the Renard diamond stream. Osisko recorded preliminary revenues3 of C$57.2 million during the second quarter and preliminary cost of sales3 (excluding depletion) of C$10.1 million, resulting in a record operating cash margin1 of approximately C$47.1 million. Excluding offtakes, Osisko’s operating cash margin for royalties and streams1 was approximately 94% during the second quarter of 2021 (97% excluding the Renard diamond stream). Osisko will provide full production and financial details with the release of its second quarter 2021 results after market close on Monday, August 9th, 2021 followed by a conference call on August 10th at 10am ET. Sandeep Singh, President and CEO of Osisko commented: “We are pleased to have posted another solid quarter in terms of GEOs and record operating cash margin. We expect a strong second half of the year with the start-up of the Santana mine and increasing deliveries from the Eagle mine. Infill work and new discoveries from the extensive drill campaign at the Canadian Malartic mine continue to strengthen our flagship asset. Additionally, there have been important advancements in our earlier stage development portfolio with assets such as Upper Beaver, Casino and Horne 5 taking significant strides forward. The depth of our portfolio is truly coming to the foreground.” RECENT ASSET ADVANCEMENTS Malartic Exploration Update On July 8th, Agnico Eagle Mines Limited (“Agnico”) released an exploration update for the ongoing 141,400 metre (“m”) drill program on their Malartic property (50% partnership with Yamana Gold Inc.). Infill drilling continues to return solid results in the core of the East Gouldie deposit, with recent results returning up to 6.3 grams per tonne (“g/t”) gold over 52.0m at 1,109m depth, including 8.9g/t gold over 21.0m at 1,102m depth. The eastern extension of the deposit continues to be tested and a new mineralized horizon was discovered approximately 400 metre...