Business
Osisko Gold Royalties Announces Preliminary Q4 2021 Deliveries and Provides 2021 Recap and Portfolio Update
MONTRÉAL, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its fo
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTRÉAL, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its fourth quarter 2021 deliveries, sales and cash margins, as well as a recap of certain asset advancements over the course of 2021 that will continue to provide meaningful catalysts in 2022. PRELIMINARY Q4 2021 RESULTS Osisko earned approximately 19,830 attributable gold equivalent ounces1 (“GEOs”) in the fourth quarter of 2021, for a total of approximately 80,000 GEOs in 2021, in line with its annual guidance of 78,000 – 82,000 GEOs. These figures exclude 3,042 GEOs earned in the fourth quarter (and 9,210 GEOs earned in 2021) from the Renard diamond stream. Osisko recorded preliminary revenues of C$50.7 million during the fourth quarter and preliminary cost of sales (excluding depletion) of C$3.7 million resulting in a cash margin2 of approximately C$47.0 million, a quarterly record from the royalty and stream interests. Osisko’s cash margin2 was approximately 93% during the fourth quarter of 2021 (97% excluding the Renard diamond stream). Osisko will provide full production and financial details with the release of its fourth quarter and full year 2021 results after market close on Thursday, February 24th, 2022 followed by a conference call on Friday, February 25th at 10am EST. Sandeep Singh, President and CEO of Osisko commented: “I am extremely proud of what Osisko and our partners accomplished in 2021. We are pleased to have achieved the midpoint of our annual GEO guidance, despite ongoing supply chain disruptions, workforce turnover and safety issues, and other challenges currently facing the mining sector. We had substantial catalysts across a number of our most important assets last year and expect further significant strengthening of our asset base in 2022, with our partners unlocking value through exploration success, mine life extensions and expansions. We also saw many of our assets end up in larger, better capitalized companies and expect this trend to continue given the quality of our portfolio. We added quality growth assets while remaining disciplined in our capital allocation. We prioritized returns to shareholders by increasing our dividend in the midst of a weakening gold market and took advantage of further market volatility to buy back 2.1 million co...