Business
Triple Flag Precious Metals Announces Q1 2023 Results – Record GEOs and Operating Cash Flow
TORONTO / May 09, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) annou
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / May 09, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced its results for the first quarter of 2023 and declared a dividend of US$0.05 per common share to be paid on June 15, 2023. All amounts are expressed in US dollars unless otherwise indicated. “I am pleased to announce another quarter of record results for Triple Flag, reflecting the successful acquisition of Maverix,” commented Shaun Usmar, CEO. “When we announced the transaction in November last year, we emphasized the strategic fit, the opportunity to acquire a diversified, cash generating portfolio of quality assets, and the ability to capture meaningful synergies in a combination that would benefit both sets of shareholders. We anticipated that the deal would broaden our shareholder base, enhance trading liquidity and result in cost synergies of US$7 million annually, positioning Triple Flag as the 4th largest streaming and royalty company. I am pleased to report that these expected deal features are being fully realized – we have seen solid operating performance at underlying Maverix assets, particularly at Beta Hunt and Camino Rojo; a more than 10-fold increase in trading liquidity, with the addition of many new quality investors to our register, and index inclusion in the MVIS Global Junior Gold Miners, S&P/TSX Global Gold, and Solactive Global Silver Miners indices. We are also seeing exciting advances at a number of the exploration and development properties we acquired.” “As we approach the two-year anniversary of our IPO, we are happy to have begun delivering against our ambitions in becoming the next emerging senior streaming and royalty company and look forward to what we can accomplish in the future with our enhanced platform.” Q1 2023 Financial Highlights Q1 2023 Q1 2022 Revenue $50.3 million $37.8 million Gold Equivalent Ounces (“GEOs”)1 26,599 20,113 Operating Cash Flow $38.9 million $26.4 million Net Earnings $16.5 million ($0.09/share) $15.9 million ($0.10/share) Adjusted Net Earnings2 $13.5 million ($0.07/share) $15.5 million ($0.10/share) Adjusted EBITDA4 $37.1 million $30.5 million Asset Margin5 88% 92% Building the Next Senior Streamer Disciplined Growth and Gold Focused Synergistic acq...