Business
Triple Flag Precious Metals Reports Strong Q1 2022 Results
TORONTO / May 10, 2022 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) announ
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / May 10, 2022 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) announced its results for the first quarter of 2022 and declared a dividend of US$0.0475 per common share to be paid on June 15, 2022. All dollar amounts are expressed in US dollars. “Triple Flag had a strong first quarter of 2022, continuing its track record of growth,” commented Shaun Usmar, Triple Flag founder and CEO. “As inflation continues to present itself throughout the global supply chain, our royalty and streaming business model being insulated from the typical operating and capital cost inflation seen by mining companies, coupled with the diversified and resilient nature of our high-quality portfolio, continue to protect Triple Flag from these pressures. In addition, the favorable commodity price backdrop provides upside benefit across our high-quality portfolio at no cost to Triple Flag, as our counterparties invest in their operations. “We were fortunate to visit Northparkes during the quarter with COVID-related travel restrictions easing. The visit underscored to us the quality of the management team, the immense surface and underground infrastructure in place at Northparkes, and the significant optionality associated with resource conversion. Our visit reinforced our belief that there is the possibility to discover new porphyry deposits, and the potential to expand the capacity of the mine. In a world seeking copper to enable decarbonization and climate change imperatives, we believe that Northparkes is ideally positioned for a long and prosperous future, and we are proud to be a part of it via our gold and silver byproduct streams and community support programs. “As we previously announced, we had first quarter revenue of $37.8 million, up 7% from the same period in the prior year, translating to metal sales of 20,113 GEOs, which was in line with our guidance. Additionally, in March we released our updated 5- and 10-year outlook figures for average annual production of 110,000 GEOs and 105,000 GEOs, respectively, once again showcasing the fully funded, embedded growth we have within our existing portfolio.“ Q1 2022 Financial Highlights 7% increase in Revenue to $37.8 million, from $35.4 million in Q1 2021. 2% increase in gold equivalent ounces (“GEOs”)1 sold to ...