Business
Osisko Gold Royalties Reports Q3 2022 Results
Record cash margin of $49.3 million Record operating cash flows from continuing operations of $51.1 million MONTRÉAL, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Osisko G
About this update from Or Royalties Inc.
[{"type":"text","content":" Record cash margin of $49.3 million Record operating cash flows from continuing operations of $51.1 million MONTRÉAL, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Corporation” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the third quarter of 2022. Amounts presented are in Canadian dollars, except where otherwise noted. Q3 2022 Financial Highlights Deconsolidation of Osisko Development Corp. (“Osisko Development”) as of September 30, 2022 and presentation of its results as discontinued operations on the statements of loss and the statements of cash flows; 23,850 GEOs1 earned (Q3 2021 – 20,032 GEOs); Revenues of $53.7 million (Q3 2021 – $50.0 million); Cash flows generated by operating activities from continuing operations of $51.1 million (Q3 2021 – $44.1 million); Cash margin2 of $49.3 million or 92% (Q3 2021 – 93%); Net earnings from continuing operations of $28.0 million, or $0.15 per share (Q3 2021 – $25.6 million or $0.15 per basic share); Adjusted earnings2 of $25.8 million, or $0.14 per basic share (Q3 2021 – $23.3 million, $0.14 per basic share). Sandeep Singh, President and CEO of Osisko commented: “The business case for Osisko has never been stronger. As outlined in our Q3 preliminary deliveries release, we experienced another quarter of record deliveries, revenues and cash margin as we continue to anticipate further increases from our core assets. We are also seeing an increasingly receptive market for royalty and streaming transactions and are well positioned having kept a strong balance sheet for this part of the cycle. We will, however, remain disciplined in capital allocation, finding the right balance between growth and returning capital to investors. The deconsolidation of Osisko Development is a further meaningful step in the strategic realignment of Osisko as a pure-play royalty and streaming business.” Other Highlights As at September 30, 2022, the Company had a cash balance of $300.5 million, convertible debentures maturing on December 31, 2022 with a nominal value of $300.0 million and a $550.0 million completely undrawn revolving credit facility; Increased the accordion feature of the revolving credit facility from $100.0 million to $200.0 million and exte...