VANCOUVER (miningweekly.com) – Mining royalties investment vehicle Maverix Metals has hit a new fourth-quarter production record, reporting 4 000 oz of attributable gold-equivalent output, which reflects a 40% year-on-year improvement.
Total attributable output for fiscal 2017, the company's first full year of operations, is now expected to be more than the top end of the 11 000 gold-equivalent ounces it guided for in November.
It expects full-year revenue in the range of C$16-million to C$18-million.
The company currently holds a portfolio of 26 royalties and streams, with ten based on producing assets and five assets at an advanced stage of development, spread over 11 countries. The company recently acquired, from a third party, a 2% net smelter return royalty on Endeavour Mining's Karma gold mine, in Burkina Faso, for $20-million, adding immediate cash flow with further leverage to gold.
Endeavour increased the mine's life to more than ten years in 2017 and recently announced a new discovery that could extend the mine life further.
Maverix intends to publish its 2018 guidance later this month, with fourth-quarter and full-year 2017 financial results expected to be released in April.