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Triple Flag Precious Metals Reports Q3 2022 Results
TORONTO / Nov 07, 2022 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, NYSE:TFPM) announc
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Nov 07, 2022 / 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 2022 and declared a dividend of US$0.05 per common share to be paid on December 15, 2022. Unless otherwise stated, all dollar amounts are expressed in US dollars. “Our results from the third quarter of 2022 were broadly in-line with expectations and we are expecting our full-year GEOs sales to be towards the low end of our guidance range of 88,000 – 92,000 GEOs” commented Shaun Usmar, CEO. “Our portfolio has delivered year-over-year GEOs increases in gold streams and royalties to date. Silver GEOs have lagged, however, primarily due to changes in delivery timing from Cerro Lindo. Cerro Lindo is producing silver in concentrate in-line with our expectations for 2022, however a combination of a higher gold-silver ratio and changes in the quotational period associated with offtake contracts have impacted timing of our stream deliveries by several months on average. This points to a short-term timing impact in contrast to the robust underlying operational performance of the mine and portfolio as a whole. Our asset margins remain strong at 90%, our cash costs of $165 per GEO remain low, and our production base is diversified across 15 producing assets. With nearly 90% of our assets situated in the lowest half of their respective industry cost curves, our mining partners are well-positioned to weather inflationary pressures and the current volatile commodity price environment. “We are also pleased to announce that during the quarter, shares of Triple Flag began trading on the New York Stock Exchange under the ticker TFPM, which is the same ticker under which we trade on the Toronto Stock Exchange. We enjoyed ringing the opening bell at the New York Stock Exchange on October 21, a recording of which you can view through our social media. This listing is another step in Triple Flag’s value-creation journey that we are happy to have achieved.” Q3 2022 Financial Highlights Revenue of $33.8 million, compared to $37.1 million in Q3 2021. Gold equivalent ounces (“GEOs”)1 sold of 19,523, compared to 20,746 in Q3 2021. Net Earnings of $12.8 million, compared to $5.1 million in Q3 2021. Adjusted Net Earnings2 of $13.3 million, compared to $13.7 mill...