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Osisko Gold Royalties Announces Q4 2023 GEO Deliveries, Record Cash Margin and Reduced Debt Balance
MONTRÉAL, Jan. 08, 2024 (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. 08, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its fourth quarter 2023 deliveries, revenues and cash margin, as well as on its cash and debt positions as of December 31st, 2023. All monetary amounts included in this report are expressed in Canadian dollars, unless otherwise noted. PRELIMINARY Q4 2023 RESULTS Osisko earned 23,275 attributable gold equivalent ounces1 (“GEOs”) in the fourth quarter of 2023, for a total of 94,323 GEOs in 2023, representing record annual deliveries for the Corporation. Osisko’s year-over-year GEOs earned increased by 6% in 2023 but fell slightly short of the low end of the 2023 guidance range of 95,000-105,000 GEOs. Osisko recorded preliminary revenues from royalties and streams of $65.2 million during the fourth quarter and preliminary cost of sales (excluding depletion) of $4.0 million, resulting in a record quarterly cash margin2 of approximately $61.2 million (or 94%). For the full year 2023, preliminary revenues from royalties and streams reached a record $247.3 million and preliminary cost of sales (excluding depletion) are estimated at $16.6 million, resulting in a record annual cash margin2 of approximately $230.7 million (or 93%), a year-over-year increase of 14%. As at December 31st, 2023, Osisko’s cash position was approximately $67.7 million, following the sale of its entire equity position in Osisko Mining Inc. and a subsequent $136.0 million repayment on the Corporation's revolving credit facility. The Corporation’s revolving credit facility was drawn by approximately $191.9 million at the end of 2023, with an additional amount of $358.1 million available to be drawn plus the uncommitted accordion of up to $200 million. Q4 AND YEAR-END 2023 RESULTS CONFERENCE AND WEBCAST CALL DETAILS Osisko provides notice of the fourth quarter and annual 2023 results and conference and webcast call details. Results Release: Tuesday, February 20th, 2024 after market close Conference Call: Wednesday, February 21st, 2024 at 10:00 am ET Dial-in Numbers:(Option 1) North American Toll-Free: 1 (888) 886 7786Local and International: 1 (416) 764 8658Conference ID: 57708068 Webcast link:(Option 2) https://viavid.webcasts.com/starthere.jsp?ei=1650912&tp_key=a14693e644 Replay (available until T...