Workflow
Triple Flag Precious Metals (TFPM)
icon
Search documents
Triple Flag Precious Metals (TFPM) - 2022 Q3 - Quarterly Report
2022-11-08 01:00
Financial Performance - Revenue for the three months ended September 30, 2022, was $33.8 million, a decrease of 9% from $37.1 million in the same period of the prior year[21]. - Gross profit for the same period was $19.7 million, a decrease of 2% from $20.2 million year-over-year[22]. - Net earnings increased to $12.8 million for the three months ended September 30, 2022, compared to $5.1 million in the prior year[25]. - Revenue was $108.0 million, a decrease of 5% from $113.4 million for the same period in the prior year[32]. - Gross profit was $62.5 million, compared to $62.6 million for the same period in the prior year[33]. - Net earnings were $39.6 million, compared to $32.1 million for the same period in the prior year[36]. - Adjusted net earnings were $13.3 million, compared to $13.7 million for the same period in the prior year[28]. - Adjusted EBITDA for the three months ended September 30, 2022, was $26.1 million, down from $29.5 million in the same period of the prior year[20]. - Adjusted EBITDA was $84.7 million, a decrease of 11% from $94.6 million for the same period in the prior year[40]. - Operating cash flow was $25.4 million, a decrease of 14% from $29.5 million for the same period in the prior year[26]. - Free cash flow for the three months ended September 30, 2022, was $25.4 million, consistent with the prior year[20]. Sales and Production - Sold 19,523 GEOs, a decrease of 6% from 20,746 GEOs sold for the same period in the prior year[27]. - For the three months ended September 30, 2022, silver sales from the Cerro Lindo mine decreased by 27% year-over-year, totaling 422,374 ounces[91]. - For the nine months ended September 30, 2022, gold sales from RBPlat operations decreased by 7% year-over-year, totaling 5,758 ounces[94]. - For the three months ended September 30, 2022, gold sales from the ATO mine increased significantly, totaling 2,927 ounces compared to 659 ounces in the same period last year[96]. - For the nine months ended September 30, 2022, silver sales from Buriticá increased by 4% year-over-year, totaling 235,185 ounces[103]. - The Fosterville Gold Mine produced 81,801 ounces of gold for the three months ended September 30, 2022, a decrease from 134,772 ounces in the prior year[106]. Costs and Expenses - Cash costs per GEO for the three months ended September 30, 2022, were $165, compared to $166 in the prior year[20]. - General administration costs decreased to $3.6 million for the three months ended September 30, 2022, from $4.0 million in the prior year, due to lower employee costs[127]. - General administration costs increased to $11.1 million from $8.0 million in the prior year, driven by higher employee costs and public company expenses[137]. - Business development costs rose significantly to $1.9 million from $0.4 million in the prior year, reflecting ongoing business development activities[138]. - Sustainability initiatives expenditures were $255 thousand for the three months ended September 30, 2022, compared to $80 thousand for the same period in the prior year[128]. Investments and Acquisitions - The company has invested over $1.7 billion in capital since its inception in 2016, developing a diversified portfolio of 80 assets[8]. - The company provided $30 million in funding to Nevada Copper Corp. to support the restart of the Pumpkin Hollow underground copper mine[73]. - The company entered into an agreement with Steppe Gold Ltd. to acquire a prepaid gold interest for $4.8 million, expecting delivery of 3,000 ounces of gold within the next 8 months[74]. - The company acquired a 1% NSR royalty over the Sofia Project in Chile for $5 million, closing the transaction on May 3, 2022[79]. - The company purchased a 2% NSR royalty on the Beaufor Mine for C$6.75 million, with an additional funding of C$4.5 million to increase the royalty rate[80]. - The company acquired a royalty portfolio from IAMGOLD for $45.7 million, closing the transaction in the first half of 2021[88]. Financial Position - Total assets increased to $1,325.5 million as of September 30, 2022, up from $1,303.4 million as of December 31, 2021, driven by higher cash balances and acquisitions[116]. - Total liabilities rose to $13.4 million as of September 30, 2022, compared to $8.8 million as of December 31, 2021, primarily due to increased amounts payable and accrued liabilities[117]. - Cash and cash equivalents at the end of the period were $82.7 million, up from $40.7 million at the end of the previous year[154]. - The Company has a Credit Facility of $500 million, with an additional uncommitted accordion of up to $200 million, maturing on August 30, 2026[156]. Shareholder Returns - The company repurchased 151,196 common shares in the three months ended September 30, 2022, under its normal course issuer bid[84]. - The company implemented an automatic share purchase plan (ASPP) effective January 1, 2022, to facilitate share buybacks during blackout periods[85]. - A Dividend Reinvestment Plan (DRIP) was announced in October 2021, allowing shareholders to reinvest dividends into common shares starting from November 2021[86]. - The company remains debt-free and has paid its inaugural dividend, reflecting strong financial health and commitment to returning value to shareholders[162]. Market Conditions - Average gold price for the three months ended September 30, 2022, was $1,729 per ounce, a 3% decrease from the same period in the prior year[15]. - Average silver price for the three months ended September 30, 2022, was $19.23 per ounce, a 21% decrease from the same period in the prior year[17]. - The average exchange rate for the three months ended September 30, 2022, was 1.3056 US$/C$, compared to 1.2600 US$/C$ in the prior year[12]. - Market gold price for streams was $1,824 per ounce for the nine months ended September 30, 2022, compared to $1,800 per ounce in the prior year[134]. Forward-Looking Statements - The forward-looking information is based on management's opinions, estimates, and assumptions regarding historical trends and current conditions[200]. - Assumptions include expectations for current and future market conditions and the execution of business strategies[200]. - There is no assurance that the underlying opinions, estimates, and assumptions will prove to be correct[200]. - Risks and uncertainties may cause actual results to differ materially from the forward-looking information[200]. - The ongoing operation of properties in which the company holds interests is expected to continue without interruption[200]. - The accuracy of public statements made by property owners or operators is critical for future projections[200]. - Mineral resources that are not classified as reserves do not demonstrate economic viability[200]. - Inferred resources are considered too geologically speculative for economic considerations[200]. - The company acknowledges the potential for known and unknown risks affecting future performance[200]. - The forward-looking statements are not historical facts but represent management's expectations for future events[200].
Triple Flag Precious Metals (TFPM) - 2022 Q2 - Earnings Call Transcript
2022-08-11 16:33
Triple Flag Precious Metals Corp. (TRFPF) Q2 2022 Earnings Conference Call August 10, 2022 10:00 AM ET Company Participants Shaun Usmar - CEO Sheldon Vanderkooy - CFO James Dendle - VP, Evaluations and IR Conference Call Participants Fahad Tariq - Credit Suisse Josh Wolfson - RBC Capital Markets Greg Barnes - TD Securities Cosmos Chiu - CIBC Tanya Jakusconek - Scotiabank Brian MacArthur - Raymond James Mikel Abasolo - Solo Capital Management Operator Hello. My name is Lisa, and I will be your conference ope ...
Triple Flag Precious Metals (TFPM) - 2022 Q1 - Earnings Call Transcript
2022-05-13 22:25
Triple Flag Precious Metals Corp. (TRFPF) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET Company Participants Shaun Usmar - Chief Executive Officer Sheldon Vanderkooy - Chief Financial Officer Eban Bari - Vice President, Finance James Dendle - Vice President, Evaluations & Investor Relations Katy Board - Vice President, Talent & ESG Conference Call Participants Tanya Jakusconek - Scotiabank Global Banking and Markets Shane Nagle - National Bank Greg Barnes - TD Securities Operator Good morning. My ...
Triple Flag Precious Metals (TFPM) - 2022 Q1 - Earnings Call Presentation
2022-05-11 18:47
TRIPLEFLAG PRECIOUS METALS GROWING A MAJOR PRECIOUS METALS STREAMING AND ROYALTY COMPANY May 11, 2022 Q1 2022 Results Presentation TSX:TFPM (C$) | TSX:TFPM.U (US$) TSX:TFPM (C$) | TSX:TFPM.U (US$) CAUTIONARY STATEMENTS This presentation does not constitute an offer to sell or a solicitation of an offer to purchase any security in any jurisdiction Forward-Looking Information This presentation contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking inf ...
Triple Flag Precious Metals (TFPM) - 2021 Q4 - Earnings Call Transcript
2022-02-23 20:50
Triple Flag Precious Metals Corp. (TRFPF) Q4 2021 Earnings Conference Call February 23, 2022 10:00 AM ET Company Participants Shaun Usmar - Founder and Chief Executive Officer Sheldon Vanderkooy - Chief Financial Officer James Dendle - Vice President of Evaluations and Investor Relations Conference Call Participants Fahad Tariq - Credit Suisse AG Greg Barnes - TD Securities Cosmos Chiu - CIBC Capital Markets Tanya Jakusconek - Scotiabank Global Banking and Markets Operator Good day, and thank you for standi ...
Triple Flag Precious Metals (TFPM) - 2021 Q4 - Earnings Call Presentation
2022-02-23 15:15
TRIPLEFLAG PRECIOUS METALS AN EMERGING SENIOR STREAMING AND ROYALTY COMPANY February 23, 2022 2021 Results Presentation TSX:TFPM (C$) | TSX:TFPM.U (US$) TSX:TFPM (C$) | TSX:TFPM.U (US$) CAUTIONARY STATEMENTS This presentation does not constitute an offer to sell or a solicitation of an offer to purchase any security in any jurisdiction Forward-Looking Information This presentation contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information ma ...