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Osisko Gold Royalties announces Q1 2023 cash margin of ~C$55.6 million

Kitco Media
By Vladimir Basov
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(Kitco News) - Osisko Gold Royalties (TSX: OR) (NYSE: OR) announced today that the company earned approximately 23,111 attributable gold equivalent ounces (GEOs) in Q1 2023, compared to 18,251 GEOs earned in Q1 2022 (excluding 3,025 GEOs earned from the Renard diamond stream).

The company said it recorded preliminary revenues from royalties and streams of C$59.6 million during the first quarter and preliminary cost of sales (excluding depletion) of C$4.0 million, resulting in a quarterly cash margin of approximately C$55.6 million (or 93%).

Osisko added it also repaid an amount of C$15.0 million under its revolving credit facility during the first quarter of 2023 whilst the cash balance increased to C$119.1 million, resulting in a net debt position of C$15.9 million as at March 31, 2023.

President and CEO Sandeep Singh commented, "Osisko remains exceptionally well positioned for a record year. We expect to see deliveries grow over the year as our Q1 seasonal impact is behind us, as core assets continue to ramp up, and with the expected addition of currently accruing silver ounces ahead of a CSA transaction close.

"Moreover, the recent catalysts in our portfolio are truly significant. Whether it's the untapped regional potential of Canadian Malartic beginning to take shape, the upcoming final investment decision for Hermosa, the ongoing advancement of the high-grade Windfall project, the burgeoning copper-porphyry potential at Tintic, the emergence of our NSR value on the Corvette lithium deposit, or a multitude of other meaningful catalysts, our portfolio is positioned to create value for shareholders for an extended period."

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 gold mine in Canada.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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