Business
Osisko Gold Royalties Reports Strong Third Quarter 2021 Results
Record operating cash flows from the royalties and streams segment of $44.1 million Strong cash margin of $46.5 million MONTRÉAL, Nov. 09, 2021 (GLOBE NEWSWIRE)
About this update from Or Royalties Inc.
[{"type":"text","content":" Record operating cash flows from the royalties and streams segment of $44.1 million Strong cash margin of $46.5 million MONTRÉAL, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Osisko Gold Royalties Ltd (the “Company” or “Osisko”) (OR: TSX & NYSE) today announced its consolidated financial results for the third quarter of 2021. Amounts presented are in Canadian dollars, except where otherwise noted. Financial Highlights Earned 20,032 GEOs1 (Q3 2020 –16,739 GEOs) Record revenues from royalties and streams of $50.0 million (Q3 2020 – $41.2 million) Cash margin4 of 93% from royalty and stream interests (Q3 2020 – 96%); 97% excluding the Renard diamond stream Consolidated cash flows from operating activities of $41.1 million (Q3 2020 – $36.1 million) Record operating cash flows from the royalties and streams segment2 of $44.1 million (Q3 2020 – $37.3 million) Operating cash flows from the mining exploration and development segment3 (i.e. Osisko Development Corp. – TSX-V:ODV) of ($3.0) million (Q3 2020 – ($1.2) million) Net earnings attributable to Osisko’s shareholders of $1.8 million, or $0.01 per basic share (Q3 2020 –$12.5 million, or $0.08 per basic share), as a result of impairment charges of $33.3 million recorded by Osisko Development Corp. (“Osisko Development”) on its mining assets Adjusted earnings5 of $17.9 million, or $0.11 per basic share3 (Q3 2020 – $17.5 million, or $0.11 per basic share) Adjusted earnings5 from the royalties and streams segment2 of $23.3 million, or $0.14 per basic share5 (Q3 2020 – $18.4 million or $0.11 per basic share) Adjusted loss5 from the mining exploration and development segment3 of $5.4 million, or $0.03 per basic share5 (Q3 2020 – $0.9 million or $0.01 per basic share) Repurchased 1.7 million common shares for $26.0 million under the normal course issuer bid Quarterly dividend of $0.055 per share declared (annualized dividend of $0.22 per share), payable on January 14, 2022 to shareholders of record as of the close of business on December 31, 2021 Sandeep Singh, President and CEO of Osisko commented on the activities of the third quarter of 2021: “In the third quarter, our royalty and streaming business continued to generate record revenues and operating cash flows led by our core assets. Ramp up at the Eagle gold mine progressed successfully, hitting records for...