Business
Osisko Gold Royalties Announces Record Preliminary Q2 2022 Deliveries, Revenues and Cash Margin
MONTRÉAL, July 12, 2022 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its se
About this update from Or Royalties Inc.
[{"type":"text","content":" MONTRÉAL, July 12, 2022 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) is pleased to provide an update on its second quarter 2022 deliveries, revenues, cash margins and recent asset advancements for its royalty and stream segment. PRELIMINARY Q2 2022 RESULTS Osisko earned approximately 22,240 attributable gold equivalent ounces1 (“GEOs”) in the second quarter of 2022, record deliveries for the Corporation since inception in 2014. Osisko had record preliminary revenues from royalties and streams of C$51.5 million during the second quarter and preliminary cost of sales (excluding depletion) of C$3.7 million, resulting in a record quarterly cash margin2 of approximately C$47.8 million or approximately 93%. Osisko will provide full production and financial details with the release of its second quarter 2022 results after market close on Tuesday, August 9th, 2022 followed by a conference call on Wednesday, August 10th at 10am ET. More details are provided at the end of this release. Sandeep Singh, President and CEO of Osisko commented: “Our royalty and streaming portfolio delivered records on a number of fronts in Q2 including GEO deliveries and absolute cash margins. We continue to expect further increases in deliveries in the second half of the year as ramp-ups at Mantos and Eagle progress towards nameplate capacity. In a period of heightened volatility in the mining sector, and rising costs across all facets of the economy, our inflation protected business model continues to thrive.” PORTFOLIO UPDATE CSA Transaction Update On June 1st, Metals Acquisition Corp. (“MAC”) published a technical study for the CSA mine (“CSA”) in New South Wales, Australia. This follows MAC’s announcement in March that it had entered into a definitive agreement with a subsidiary of Glencore plc for the acquisition of CSA (the “Acquisition Transaction”). The study suggests the potential for a mine life in excess of 15 years, as well as the significant exploration potential on the large land package. MAC is in the process of completing the necessary regulatory reporting requirements and associated financing arrangements to conclude the Acquisition Transaction. Closing of the Acquisition Transaction is subject to, among other things, the approval of MAC’s shareholders, and is expected to be completed in Q...