Osisko Gold Royalties-Osisko Reports Q2 2024 Results

Core Insights - Osisko Gold Royalties Ltd reported consolidated financial results for Q2 2024, highlighting record operating cash flows of $52.3 million and a cash margin of 97% [1][2] - The company appointed Ms. Wendy Louie to its Board of Directors, bringing over 25 years of finance and leadership experience in the mining industry [4][5] Financial Performance - The company earned 20,068 gold equivalent ounces (GEOs) in Q2 2024, a decrease from 24,645 GEOs in Q2 2023 [2] - Revenues from royalties and streams increased to$ 64.8 million, compared to $60.5 million in Q2 2023 [2] - A net loss of$ 21.1 million was reported, equating to $0.11 per basic share, primarily due to a non-cash impairment loss of$ 67.8 million on the Eagle gold royalty [2] - Adjusted earnings reached a record of $33.2 million, or$ 0.18 per basic share, up from $27.2 million or$ 0.15 per basic share in Q2 2023 [2][22] - The company repaid $44.2 million under its revolving credit facility and extended the maturity date to April 30, 2028 [2] Cash Flow and Balance Sheet - Operating cash flows were reported at$ 52.3 million, an increase from $47.4 million in Q2 2023 [2][32] - As of June 30, 2024, the cash balance stood at$ 65.7 million, with outstanding debt of $109.0 million [2][28] Strategic Developments - Subsequent to June 30, 2024, Osisko Bermuda Limited acquired a new gold stream on SolGold plc's Cascabel copper-gold project in Ecuador [3] - The company also announced the first delivery under the CSA copper stream from Metals Acquisition Limited and received the first payment from Agnico Eagle Mines Ltd. under the Akasaba West royalty [3] Leadership Changes - Ms. Wendy Louie's appointment to the Board is expected to enhance the company's governance and strategic direction, given her extensive experience in the mining sector [5][6]