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Triple Flag Precious Metals Announces Q3 2023 Results – On Track to Achieve Guidance
TORONTO / Nov 07, 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 / Nov 07, 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 third quarter of 2023 and declared a dividend of US$0.0525 per common share to be paid on December 15, 2023. All amounts are expressed in US dollars unless otherwise indicated. “Our business continued its strong performance in the third quarter of 2023, and we are on track to deliver our full-year GEOs sales guidance of 100,000 to 115,000 ounces,” commented Shaun Usmar, CEO. “Triple Flag maintained a solid pace of accretive acquisitions during the quarter, with an incremental 2.65% royalty acquired at the producing Stawell gold mine in Australia, which follows the acquisition of the Agbaou royalty during the second quarter and the Maverix transaction completed earlier this year. This brings the total value of transactions closed during this year to nearly $700 million. Sustainability is also core to our identity and subsequent to quarter-end, we achieved a year-over-year improvement in our Sustainalytics’ ESG Risk Rating, and now rank 3rd out of 117 companies in the global precious metals sector.” Q3 2023 Financial Highlights Q3 2023 Q3 2022 Revenue $49.4 million $33.8 million Gold Equivalent Ounces (“GEOs”)1 25,629 19,523 Operating Cash Flow3 $36.8 million $25.4 million Net (Loss) Earnings -$6.0 million (-$0.03/share) $12.8 million ($0.08/share) Adjusted Net Earnings2 $17.3 million ($0.09/share) $13.3 million ($0.09/share) Adjusted EBITDA4 $38.8 million $26.1 million Asset Margin5 90% 90% GEOs Sold by Commodity, Revenue by Commodity, and Financial Highlights Summary Table Three Months Ended September 30 ($ thousands except GEOs, Asset Margin and per share numbers) 2023 2022 GEOs1 Gold 15,115 11,918 Silver 9,500 6,134 Other 1,014 1,471 Total 25,629 19,523 Revenue Gold 29,149 20,605 Silver 18,321 10,605 Other 1,955 2,544 Total 49,425 33,754 Net (Loss) Earnings (6,041) 12,815 Net (Loss) Earnings per Share (0.03) 0.08 Adjusted Net Earnings2 17,337 13,258 Adjusted Net Earnings per Share2 0.09 0.09 Operating Cash Flow3 36,750 25,356 Operating Cash Flow per Share 0.18 0.16 Adjusted EBITDA4 38,804 26,054 Asset Margin5 90% 90% Corporate Updates Guidance and Outlook Maintained: Triple Flag remains on track to achie...