Business
Osisko Gold Royalties Announces Preliminary Q4 2020 Sales and Provides Royalty & Stream Portfolio Update
MONTRÉAL, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide the following corpo
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTRÉAL, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide the following corporate update: PRELIMINARY Q4 2020 SALES Osisko received approximately 18,800 attributable gold equivalent ounces1 (“GEOs”) in the fourth quarter of 2020, for a total of approximately 66,100 GEOs in 2020, exceeding the revised guidance of 63,500 – 65,500 GEOs. These figures exclude 1,750 GEOs earned from the Renard diamond stream in the fourth quarter of 2020 from diamonds sold from inventories by the operator. The net proceeds from the Renard diamond stream were reinvested through the bridge loan with the operator of the mine. Osisko recorded preliminary revenues2 of C$64.5 million during the fourth quarter. Preliminary cost of sales2, excluding depletion2, was C$18.2 million resulting in a cash operating margin3 of approximately C$46.3 million. These figures include preliminary revenues2 from the Renard diamond stream of C$4.3 million, costs of sales, excluding depletion2, of C$1.9 million resulting in an operating cash margin of C$2.4 million. Excluding offtakes, Osisko’s cash operating margin for royalties and streams3 was 93.5% during the fourth quarter of 2020 (97.1% excluding the Renard diamond stream). Sandeep Singh, CEO of Osisko commented: “We are extremely pleased with the strength of our business in the fourth quarter and on having exceeded our revised guidance for the year. The upward trend in GEOs continued during the quarter and we look forward to further growth catalysts in 2021 and beyond. Further in the release, we provide an update on certain producing and development stage assets. The depth of Osisko’s portfolio is often overlooked, but we have a number of high-quality assets, at various stages of advancement, that have the potential to add significant value for shareholders.” APPOINTMENT OF VICE PRESIDENT, INVESTOR RELATIONS Osisko is also pleased to announce the appointment of Heather Taylor as Vice President, Investor Relations. Heather brings to the role over 15 years of capital markets experience in the metals and mining industry. Most recently, Ms. Taylor was Head of Business Development for Nexa Resources. Prior to that, she managed investor relations at Nevsun Resources until its sale. In addition, Heather brings with her a broad range ...