Osisko Gold Royalties reports record operating cash margin in second quarter
(Kitco News) - Osisko Gold Royalties (OR: TSX & NYSE) reported today that the company earned approximately 20,178 attributable gold equivalent ounces ("GEOs") in the second quarter of 2021, excluding GEOs earned from the Renard diamond stream.
Osisko said that the company recorded preliminary revenues of C$57.2 million during the second quarter and preliminary cost of sales (excluding depletion) of C$10.1 million, resulting in a record operating cash margin of approximately C$47.1 million.
The company added that excluding offtakes, Osisko's operating cash margin for royalties and streams was approximately 94% during the second quarter of 2021 (97% excluding the Renard diamond stream).
President and CEO Sandeep Singh commented, "We are pleased to have posted another solid quarter in terms of GEOs and record operating cash margin. We expect a strong second half of the year with the start-up of the Santana mine and increasing deliveries from the Eagle mine."
Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 150 royalties, streams and precious metal offtakes. Osisko's portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.