(Kitco News) - Triple Flag Precious Metals (TSX: TFPM, NYSE: TFPM) reported yesterday Q3 2022 revenue of $33.8 million, compared to $37.1 million in Q3 2021, while gold equivalent ounces sold were 19,523, compared to 20,746 in Q3 2021.
The company also announced net earnings of $12.8 million in Q3 2022, compared to $5.1 million in Q3 2021, and adjusted net earnings of $13.3 million, compared to $13.7 million in Q3 2021.
According to the company's statement, its Board of Directors declared a quarterly dividend of US$0.05 per common share that will be paid on December 15, 2022, to the shareholders of record at the close of business on November 30, 2022.
"Our results from the third quarter of 2022 were broadly in-line with expectations and we are expecting our full-year GEOs sales to be towards the low end of our guidance range of 88,000 – 92,000 GEOs," commented CEO Shaun Usmar. "Our portfolio has delivered year-over-year GEOs increases in gold streams and royalties to date. Silver GEOs have lagged, however, primarily due to changes in delivery timing from Cerro Lindo."
"Our asset margins remain strong at 90%, our cash costs of $165 per GEO remain low, and our production base is diversified across 15 producing assets. With nearly 90% of our assets situated in the lowest half of their respective industry cost curves, our mining partners are well-positioned to weather inflationary pressures and the current volatile commodity price environment," he added.
Triple Flag is a pure play, gold-focused, emerging senior streaming and royalty company. The company offers bespoke financing solutions to the metals and mining industry with exposure primarily to gold and silver in the Americas and Australia, with a total of 80 assets, including 9 streams and 71 royalties. These investments are tied to mining assets at various stages of the mine life cycle, including 15 producing mines and 65 development and exploration stage projects.
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