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Osisko Gold posts record cash margin of C$47.8M from royalties and streams in Q2, announces dividend

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(Kitco News) - Osisko Gold Royalties (TSX, NYSE: OR) today announced 22,243 gold equivalent ounces earned in Q2 2022 (Q2 2021 – 20,178 ounces).

The company’s consolidated revenues were C$64.0 million (Q2 2021 – C$57.9 million), consolidated cash flows from operating activities were (C$0.2 million) (Q2 2021 – C$30.9 million), and cash margin was 93% (C$47.8 million) from royalties and streams (Q2 2021 – 94% or C$47.2 million).

Importantly, consolidated net earnings attributable to Osisko’s shareholders were C$17.2 million in Q2 2022, or C$0.09 per share (Q2 2021 – net loss of C$14.8 million or C$0.09 per basic share).

In addition, the company announced a third quarter 2022 dividend of C$0.055 per common share. The dividend will be paid on October 14, 2022 to shareholders of record as of the close of business on September 30, 2022.

President and CEO Sandeep Singh commented, “We benefited from record GEO deliveries and cash margins in Q2 despite two core assets not being at their full run rates, and we expect deliveries to continue to climb steadily in the second half of the year. The markets have become increasingly volatile, but we believe the investment thesis for Osisko has never been stronger.”

Osisko Gold Royalties is an intermediate precious metal royalty company which holds a North American focused portfolio of over 165 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.

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