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Triple Flag Precious Metals Announces Q2 2024 Results, Management Appointments and 2028 GEOs Outlook
TORONTO / Aug 07, 2024 / 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 / Aug 07, 2024 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced its results for the second quarter of 2024 and declared a dividend of US$0.055 per common share to be paid on September 16, 2024. All amounts are expressed in US dollars, unless otherwise indicated. “Triple Flag is firmly on track to achieve sales guidance of 105,000 to 115,000 gold equivalent ounces (“GEOs”) for 2024, following record performance in the first half of this year. Northparkes delivered another quarter of stronger GEOs driven by higher open-pit grades, which underpinned year-over-year growth of 25% in operating cash flow per share for the Company. Evolution Mining has continued to demonstrate significant value creation as the new operator of Northparkes during a recent analyst and investor site visit. Most notably, a new sub-level cave has been introduced into the potential mining sequence to establish a steadier production profile from Northparkes through the next five years and ahead of longer-term growth from the E22 orebody,” commented Shaun Usmar, CEO. “We remain disciplined towards capital allocation during this period of strong precious metals prices and are pleased to announce that the performance of our business has provided the basis for our third consecutive annual increase of our dividend by 5% since we listed in 2021. Our portfolio’s organic growth profile is strong and well positioned to deliver long-term value, with expected sales of 135,000 to 145,000 GEOs in 2028. Over the past month, Triple Flag maintained a solid pace of accretive acquisitions with an additional royalty interest in Tamarack as well as new gold streams on the Agbaou and Bonikro mines. With current liquidity available of nearly $640 million, we continue to advance an active and actionable deal pipeline. Finally, I am pleased to announce the promotion of Eban Bari to Chief Financial Officer and James Dendle to Chief Operating Officer, effective upon Sheldon Vanderkooy assuming the role of Chief Executive Officer and Director in the fourth quarter of 2024. The promotion of Eban and James is a testament to their expertise and dedication as core members of Triple Flag’s high-performing team, as well as their integral role in building this business into the fourth-largest pr...