Business
Triple Flag Precious Metals Reports Strong Q3 2021 Results
TORONTO / Nov 10, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) today
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Nov 10, 2021 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX:TFPM, TSX:TFPM.U) today announced its results for the third quarter of 2021 and declared a dividend of US$0.0475 per common share to be paid in December 2021. All amounts expressed in US dollars. “We are pleased to report another set of strong results for the third quarter of 2021, successfully delivering sector-leading growth in a disciplined manner, demonstrated by year-over-year increases in revenue, cash flow, adjusted EBITDA and gold equivalent ounces sold, among other metrics,” commented Shaun Usmar, Triple Flag Founder and CEO. “These results include a 52% increase in revenue, 53% increase in operating cash flow, and a 62% increase in GEOs sold, as compared to the same period in 2020. We are also pleased to announce that our Board has declared a quarterly dividend of US$0.0475 per common share. Based on the November 9 closing price, our annualized dividend of US$0.19 per share provides investors with a sector-leading dividend yield of 2.0%, supported by a robust debt-free balance sheet. We intend to grow the dividend over time as we focus on delivering consistently strong results while executing our strategy of disciplined and accretive growth through the acquisition of additional precious metals streams and royalties. In addition, we are excited that our partner Steppe Gold Ltd. recently announced the positive results of the feasibility study on its ATO gold mine in Mongolia that would extend the mine life by 10.5 years from the fresh rock ore production (“Phase 2 Expansion”) following depletion of the current oxide phase in two years. This expansion also extends the life of Triple Flag’s stream by more than a decade with no incremental investment by Triple Flag. This is a testament to our rigorous due diligence process and our ability to source and secure transactions on high-quality mining projects led by great partners around the globe and create value for all stakeholders. We are working with the Steppe Gold management team to meaningfully contribute to their impressive community programs in education and beyond.” Q3 2021 Highlights 52% increase in Revenue to $37.1 million, from $24.5 million in Q3 2020. 53% increase in Operating Cash Flow to $29.5 million, from $19.2 million in Q3 2...