Business
Osisko Gold Royalties Reports Q2 2024 Results
Record operating cash flows of $52.3 million with quarterly cash margin of 97% Appointment of Ms. Wendy Louie to the Board of Directors MONTREAL, Aug. 06, 2024
About this update from Or Royalties Inc.
[{"type":"text","content":" Record operating cash flows of $52.3 million with quarterly cash margin of 97% Appointment of Ms. Wendy Louie to the Board of Directors MONTREAL, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the second quarter of 2024. Amounts presented are in Canadian dollars, except where otherwise noted. Highlights 20,068 gold equivalent ounces1 (“GEOs”) earned (24,645 GEOs in Q2 2023); Revenues from royalties and streams of $64.8 million ($60.5 million in Q2 2023); Record cash flows generated by operating activities of $52.3 million ($47.4 million in Q2 2023); Net loss of $21.1 million, $0.11 per basic share (net earnings of $18.0 million, $0.10 per basic share in Q2 2023), as a result of a non-cash impairment loss of $67.8 million on the Eagle gold royalty, representing 100% of the net book value on June 30, 2024 ($49.9 million, net of income taxes); Record adjusted earnings2 of $33.2 million, $0.18 per basic share ($27.2 million, $0.15 per basic share in Q2 2023); Repayment of $44.2 million under the revolving credit facility and extension of the maturity date from September 29, 2026 to April 30, 2028; Cash balance of $65.7 million and debt outstanding of $109.0 million as at June 30, 2024; Publication of the fourth edition of the Company’s sustainability report, Growing Responsibly and the 2024 Asset Handbook; and, Declaration of a quarterly dividend of $0.065 per common share paid on July 15, 2024 to shareholders of record as of the close of business on June 28, 2024, an increase of 8%. Subsequent to June 30, 2024 Acquisition by Osisko Bermuda Limited of a new gold stream on SolGold plc’s Cascabel copper-gold project in Ecuador; First delivery under the CSA copper stream from Metals Acquisition Limited; First payment from Agnico Eagle Mines Ltd. under the Akasaba West 2.5% NSR royalty; Additional repayments of $13.8 million (US$10.0 million) on the revolving credit facility; and Declaration of a quarterly dividend of $0.065 per common share payable on October 15, 2024 to shareholders of record as of the close of business on September 30, 2024. Appointment of Ms. Wendy Louie to Osisko’s Board of Directors Osisko is also pleased to announce the appointment of Ms. Wendy Louie to its Board of Directors. Ms. Louie is a ...