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Osisko Gold Royalties Announces Preliminary Q3 2021 Deliveries and Provides Asset Update
MONTRÉAL, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its th
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTRÉAL, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its third quarter deliveries, sales and operating cash margins1 and recent asset advancements. PRELIMINARY Q3 2021 RESULTS Osisko earned approximately 20,032 attributable gold equivalent ounces2 (“GEOs”) in the third quarter of 2021, excluding 2,452 GEOs earned from the Renard diamond stream. Osisko recorded preliminary revenues3 of C$50.0 million during the third quarter and preliminary cost of sales3 (excluding depletion) of C$3.5 million, resulting in an operating cash margin1 of approximately C$46.5 million. Osisko’s operating cash margin was approximately 93% during the third quarter of 2021 (97% excluding the Renard diamond stream). Osisko will provide full production and financial details with the release of its third quarter 2021 results after market close on Tuesday, November 9th, 2021 followed by a conference call on November 10th at 10am EST. Sandeep Singh, President and CEO of Osisko commented: “Our cash flowing assets continued to meet or exceed our expectations over the course of another strong quarter. Given the meaningful cash flow generated at current commodity prices, we previously announced a 10% increase to our third quarter dividend and repurchased over 1.7 million common shares in the months of August and September through our normal course issuer bid. The Corporation’s cash flow potential will only strengthen as our paid-for and peer-leading organic growth unfolds over the coming years.” RECENT ASSET ADVANCEMENTS Malartic Exploration Update On September 7th, Yamana Gold Inc. (“Yamana”) provided an update on the ongoing exploration programs at Canadian Malartic. The district exploration program has discovered a deep eastern extension of the East Gouldie structure as well as a new zone located 400 meters south of East Gouldie, and intercepted further promising mineralization below the known East Amphi deposit. These results support the continued growth of Canadian Malartic as it transitions from an open pit mine to a large underground operation with a decades-long mine life. Drilling highlights in the East Gouldie infill area include the following estimated true width intercepts: 6.2 g/t gold over 61.7 meters including 10.9 g/t gold over 21.0 mete...