Triple Flag Reports Q2 2022 Results and Increases Dividend
August 10, 2022 at 09:16 am EDT
Share
Triple Flag Precious Metals Corp. (with its subsidiaries, 'Triple Flag' or the 'Company') (TSX: TFPM, TSX: TFPM.U) announced its results for the second quarter of 2022 and declared an increased dividend of US$0.05 per common share to be paid on September 15, 2022.
Unless otherwise stated, all dollar amounts are expressed in US dollars. 'We are pleased to report solid results for the second quarter, in which operating performance across the portfolio was broadly in line with our expectations' commented Shaun Usmar, CEO. 'Metal sales in the second quarter declined versus last year's record results for the same period due mostly to quarter-end timing of shipments and a higher gold-silver ratio, but this still represented our third best quarter of operating cash flow in the life of the Company. We expect full-year 2022 gold equivalent ounces sales to be weighted to the second half of the year, with sales volumes of gold and silver on track for a record in 2022. This has made it possible for us to increase our annual dividend by 5%, from US$0.19 to US$0.20 per share, equating to a sector-leading dividend yield of 1.8%. Looking more broadly across the sector, margin compression at operating mining companies, driven by cost inflation and commodity price volatility, is increasingly prevalent, as well as large increases in capital expenditure bills for development stage companies. While we currently have an active deal pipeline, we expect this market dynamic to further improve the outlook for streaming and royalty opportunities as more conventional funding alternatives prove increasingly expensive and unreliable, and miners require additional liquidity to overcome these challenges. We believe the market is setting up nicely for an acute need for patient, long-term capital in the sector, and we have ample liquidity to deploy against this backdrop in a disciplined manner. The team remains highly focused on continuing to build Triple Flag in the same successful manner we have for the past 6 years, with good financial results, continued organic growth from our diverse portfolio, ample deal possibilities, disciplined acquisitions, and strong liquidity providing the bedrock for continued growth in value per share. We remain debt-free, are on track for our seventh consecutive year of record results, have a growing cash balance for new deals, strong and stable asset margins, and significant future optionality embedded in our portfolio.'
About Triple Flag
Triple Flag is a pure play, gold-focused, emerging seniorstreaming and royalty company. We provide our investors with exposure to a long-life, diversified and high-quality portfolio of streams and royalties that generates robust free cash flows. Our business is underpinned by a rigorous focus on asset quality, optionality, sustainability and risk management. We offer bespoke financing solutions to the metals and mining industry. Our mission is to be a preferred funding partner to mining companies throughout the commodity cycle by providing customized streaming and royalty financing, while offering value beyond capital as partners via our networks, capabilities and sustainability support. Since our inception in 2016, we have delivered sector-leading growth through the construction of a diversified portfolio of streams and royalties that provides exposure primarily to gold and silver in the Americas and Australia. We have also maintained carbon neutrality since that time, including the Scope 3 greenhouse gas emissions of our attributable portion of metals production of our counterparties. We have 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. On May 26, 2021, Triple Flag closed its IPO, which was the largest TSX-listed mining IPO since 2012 by size and market capitalization, and the largest precious metals IPO globally by market capitalization since 2008. Triple Flag's shares are listed on the TSX under TFPM.U (USD listing) and TFPM (CAD listing).
Triple Flag Precious Metals Corp. is a gold-focused, streaming and royalty company. The Company offers bespoke financing solutions to the metals and mining industry, primarily for gold and silver in the Americas and Australia, with a total of 229 assets, including 15 streams and 214 royalties. It has a diversified portfolio of properties in Australia, Canada, Colombia, Mexico, Mongolia, Peru, South Africa and the United States. The Company's producing streams and royalties include Northparkes, Cerro Lindo, Altan Tsagaan Ovoo, RBPlat, Buritica, Auramet, Renard, Fosterville, Young-Davidson, Dargues, Eagle River, Hemlo, Henty, Stawell and others. Its diversified portfolio of streams and royalties provides exposure to production from a suite of long-life mining assets, including the Northparkes copper-gold mine in Australia (CMOC), the Cerro Lindo polymetallic mine in Peru (Nexa), the Fosterville gold mine in Australia (Agnico Eagle), the Buritica gold mine in Colombia (Zijin) and others.
TRIPLE FLAG PRECIOUS METALS CORP. 
