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Osisko Gold Royalties Announces Preliminary Q4 2024 Geo Deliveries with Record Annual Cash Margin
MONTRÉAL, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its fourth
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTRÉAL, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its fourth quarter 2024 preliminary deliveries, revenues and cash margin, as well as on its cash and debt positions as of December 31st, 2024. All monetary amounts included in this report are expressed in Canadian dollars1, unless otherwise noted. PRELIMINARY Q4 2024 RESULTS Osisko earned 20,005 attributable gold equivalent ounces2 (“GEOs”) in the fourth quarter of 2024, for a total of 80,740 GEOs in 2024, thereby achieving the mid-point of the Company’s revised GEO delivery guidance range of 77,000-83,000 GEOs. Osisko’s year-over-year GEOs earned decreased by 14% in 2024 due to the stoppage of operations at the Renard diamond mine in the fourth quarter of 2023, and with the stoppage of the Eagle mine as of June 24, 2024 following the slope failure at its heap leach pad facility. Osisko recorded record preliminary revenues from royalties and streams of $79.3 million (US$56.7 million) during the fourth quarter and preliminary cost of sales (excluding depletion) of $3.1 million (US$2.2 million), resulting in a record quarterly cash margin3 of approximately $76.3 million (US$54.6 million) (or 96.2%). For the full year 2024, preliminary revenues from royalties and streams reached a record $262.2 million (US$191.2 million) and preliminary cost of sales (excluding depletion) are estimated at $9.3 million (US$6.7 million), resulting in a record annual cash margin3 of $252.9 million (US$184.4 million) (or 96.5%). As at December 31st, 2024, Osisko’s cash position was approximately $85.0 million (US$59.1 million), following the closing of both the Dalgaranga royalty acquisitions and the Gibraltar silver stream amendment, in the fourth quarter of 2024. Osisko’s revolving credit facility was drawn by $135.1 million (US$93.9 million) at the end of 2024, with an additional amount of $414.9 million (US$288.3 million) available to be drawn plus the uncommitted accordion of up to C$200 million. Q4 AND YEAR-END 2024 RESULTS CONFERENCE AND WEBCAST CALL DETAILS Osisko provides notice of the fourth quarter and annual 2024 results and conference and webcast call details. Results Release: Wednesday, February 19th, 2025 after market close Conference Call: Thursday, February 2...