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Triple Flag Precious Metals Announces Strong Q1 2024 Results Driven by Growth at Northparkes
TORONTO / May 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 / May 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 first quarter of 2024 and declared a dividend of US$0.0525 per common share to be paid on June 14, 2024. All amounts are expressed in US dollars, unless otherwise indicated. “The business continues to generate significant free cash flow, with a record start to 2024 putting us firmly in line with annual GEOs sales guidance of 105 to 115 thousand ounces,” commented Shaun Usmar, CEO. “Growth from our cornerstone asset, Northparkes, has delivered meaningful results in the first quarter of 2024, and we look forward to the impact of our portfolio’s exposure to increased gold and silver prices on our cash flow. Triple Flag has a highly driven, invested team, and we have a clear opportunity to meaningfully advance our development aspirations.” Q1 2024 Financial Highlights Q1 2024 Q1 2023 Revenue $57.5 million $50.3 million Gold Equivalent Ounces (“GEOs”)1 27,794 26,599 Net Earnings (per share) $17.4 million ($0.09) $16.5 million ($0.09) Adjusted Net Earnings2 (per share) $23.2 million ($0.12) $15.3 million ($0.08) Operating Cash Flow $38.9 million $38.9 million Operating Cash Flow per Share 0.19 0.20 Adjusted EBITDA3 $48.1 million $39.4 million Asset Margin4 92% 88% GEOs Sold by Commodity and Revenue by Commodity Three Months Ended March 31 ($ thousands except GEOs) 2024 2023 GEOs1 Gold 17,646 14,005 Silver 9,485 11,385 Other 663 1,209 Total 27,794 26,599 Revenue Gold 36,524 26,468 Silver 19,632 21,517 Other 1,372 2,284 Total 57,528 50,269 Corporate Updates Guidance and Outlook Maintained: Triple Flag remains on track to achieve its sales guidance for 2024 of 105,000 to 115,000 GEOs. As previously announced, we expect the GEOs contribution in 2024 from the higher gold grade E31 and E31N open pits at Northparkes to be slightly higher in the second half of the year ...