https://www.miningweekly.com

Osisko Gold Royalties lifts earnings on record ounces earned

5th May 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – Intermediate precious metal royalty company Osisko Gold Royalties has reported higher earnings for the first quarter ended March, as record ounces earned boosted the top and bottom lines.

The company’s portfolio of royalty and stream interests delivered a quarterly record 10 418 gold-equivalent ounces, up 9% year-on-year as increased output at Canadian Malartic (Quebec), Island Gold (Ontario) and Vezza (Quebec), as well as the company’s first delivery of silver from the recently acquired Taseko Mines silver stream (Gibraltar copper mine, British Columbia) pushed production higher, offset by lower output at the Éléonore mine.

Net earnings attributable to Osisko shareholders was C$4.1-million, or C$0.04 a basic share, compared with a net loss of C$100 000, nil per share in the comparable year-earlier period. Adjusted earnings totalled C$6.6-million, or C$0.06 a share, compared with C$8.7-million, or C$0.09 in the same period of 2016, and just shy of earning the C$0.07 analysts were looking for.

Cash flow per share before changes in working capital came in at C$0.12

The company finished the quarter with C$423.6-million of cash and equivalents, and since quarter-end has acquired additional shares of Barkerville Gold Mines for C$28.1-million, bringing the company’s holdings to 35.2%. The company also acquired a further 0.75% net smelter return (NSR) royalty on Barkerville’s Cariboo gold project, in British Columbia, for cash of C$12.5-million, which increased the NSR held by Osisko Gold Royalties to a total of 2.25%.

After reporting the results Thursday, the company’s TSX-listed stock on Friday traded mostly in positive territory, adding 2.3% at C$14.21 apiece in the afternoon session.

Edited by Creamer Media Reporter

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.2 0.234s - 90pq - 2rq
Subscribe Now