Mining News
Osisko reports revenues from royalties and streams of C$60.5M in Q2; says cash margin is 93%
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(Kitco News) - Osisko Gold Royalties (TSX: OR) (NYSE: OR) reported today that the company earned approximately 24,645 attributable gold equivalent ounces (GEOs) in Q2 2023 (Q2 2022: 22,243 GEOs).
This includes 1,527 GEOs earned from the recently acquired CSA silver stream, for which revenues are expected to be recognized in Q3 2023.
Osisko said it recorded preliminary revenues from royalties and streams of C$60.5 million in Q2 2023 and preliminary cost of sales (excluding depletion) of C$4.3 million, resulting in a quarterly cash margin of approximately C$56.2 million (or 93%).
Interim CEO Paul Martin commented, "It is a privilege to be granted the opportunity to become Interim CEO of Osisko, a leading royalty company with an exceptional portfolio of assets. I look forward to overseeing management's continued execution of its successful strategy of originating and delivering high quality royalty and streaming transactions while the board continues its search for the next leader of the company."
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 180 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 one of the largest gold mines in Canada.
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