Triple Flag ups gold equivalent ounces sales 62% in third quarter
(Kitco News) - Triple Flag Precious Metals(TSX: TFPM), a gold-focused streaming and royalty company,today announced metal sales of 20,746 gold equivalent ounces ("GEOs") for the thirdquarter of 2021, a 62% increase over the same period in 2020.
According to the company'sstatement, revenues in the third quarter of 2021 were US$37.1 million,representing an increase of over 50% over the same period in 2020.
Triple Flag is also announcingan update to its 2021 guidance to 80,000 to 83,000 GEOs, due to ongoingCovid-19 related supply-chain impacts at ATO. In addition, Triple Flagannounces that it has established a share buyback program and implemented adividend reinvestment plan.
"During the first threequarters of 2021, our business has sold 62,997 GEOs, similar to last year'sannual record sales for the entirety of 2020, through fully funded embeddedgrowth," commented Founder and CEO Shaun Usmar. "The increase in metal sales islargely due to the continued ramp-up of newly constructed mines, the addition ofNorthparkes and solid performance from Cerro Lindo, which more than offset theongoing Covid-19 related production delays experienced by ATO. These supplychain disruptions generate a timing delay during 2021, which should berecovered during 2022."
Triple Flag is a gold-focusedstreaming and royalty company. Since its inception in 2016, the companyindicated that it has delivered sector-leading growth through the constructionof a diversified portfolio of streams and royalties that provides exposureprimarily to gold and silver in the Americas and Australia. The company has 75assets, including 9 streams and 66 royalties, including 15 producing mines and60 development and exploration stage projects.
By Vladimir BasovFor Kitco News
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