Osisko reports record operating cash flows from royalties and streams in Q3, declares dividend
(Kitco News) - Osisko Gold Royalties (OR: TSX & NYSE) reported today that the company earned 20,032 gold equivalent ounces (GEOs) in Q3 2021, up 20% compared to Q3 2020 (16,739 GEOs).
Importantly, the company posted revenues from royalties and streams of $50.0 million (Q3 2020 - $41.2 million) and said that it generated record operating cash flows from the royalties and streams segment of $44.1 million (Q3 2020 - $37.3 million).
Net earnings attributable to Osisko's shareholders was $1.8 million, or $0.01 per basic share (Q3 2020 -$12.5 million, or $0.08 per basic share), as a result of impairment charges of $33.3 million recorded by Osisko Development on its mining assets, the company noted.
In addition, Osisko declared a quarterly dividend of $0.055 per share (annualized dividend of $0.22 per share), payable on January 14, 2022 to shareholders of record as of the close of business on December 31, 2021.
Osisko Gold Royalties 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 160 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.
By Vladimir BasovFor Kitco News
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