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Triple Flag Precious Metals Corp. reports developments for a precious metals streaming and royalty company with common shares listed on the TSX and NYSE under TFPM. Company news centers on gold and silver sales measured in gold equivalent ounces, revenue and cash flow trends, quarterly dividends, and capital deployment into streams and royalties.
Updates also cover portfolio activity across assets primarily in the Americas and Australia, including mining properties such as Northparkes, Cerro Lindo, Fosterville, Buriticá and Impala Bafokeng Operations. Recurring governance items include annual meeting voting results, director elections, auditor appointments and advisory compensation votes.
Triple Flag Precious Metals Corp. (NYSE:TFPM) has acquired up to a 2.5% net smelter returns royalty on the Thunder Bay North Project in Northern Ontario from Clean Air Metals Inc. for a total of C$15 million. The acquisition is structured in two tranches, with C$10 million due on the effective date and C$5 million within 90 days. This project focuses on platinum, palladium, copper, and nickel, boasting robust project economics and significant exploration potential. Clean Air Metals has options to reduce the royalty and has established agreements with local First Nations.
Triple Flag Precious Metals Corp. (TFPM) has announced definitive agreements to acquire a gross revenue return (GRR) worth A$10 million and a gold and silver stream valued at US$80 million from the Prieska Copper-Zinc Mine, operated by Orion Minerals. The GRR and stream are conditional upon approvals from the South African Reserve Bank and completion of an executable mine plan. This strategic acquisition aims to enhance Triple Flag's asset portfolio and align with its green energy transition goals. The Prieska mine has a projected life of over 11 years with significant copper and zinc production.
Triple Flag Precious Metals Corp. (NYSE:TFPM) announced the renewal of its normal course issuer bid (NCIB) to repurchase up to 2,000,000 common shares, representing 1.3% of its outstanding shares. This program, valid from November 15, 2022, to November 14, 2023, is intended to optimize shareholder value by repurchasing shares at favorable prices. An automatic share purchase plan has been established to facilitate purchases during regulatory blackout periods. Previously, Triple Flag repurchased 338,100 shares for approximately C$1.7 million and US$3 million, respectively.
Triple Flag Precious Metals Corp. (TFPM) will acquire Maverix Metals Inc. (MMX) in a strategic merger to enhance its portfolio of gold and silver streams and royalties. The deal aims to create a leading senior streaming and royalty company with 29 paying assets and a total of 228 assets. The transaction, valued at US$606 million, presents a 10% premium based on closing share prices. The merger is expected to generate $7 million in annual pre-tax synergies and increase shareholder value through enhanced diversification and a strong cash flow profile.
Triple Flag Precious Metals and Maverix Metals announced a definitive agreement for Triple Flag to acquire all common shares of Maverix in a strategic combination aimed at creating a leading senior streaming and royalty company. The transaction will merge their complementary portfolios, increasing scale with 29 paying assets and generating tangible annual synergies of approximately $7 million. The deal offers Maverix shareholders a choice between $3.92 in cash or 0.360 shares of Triple Flag. Total equity value for Maverix is estimated at $606 million.
Triple Flag Precious Metals Corp. has declared a cash dividend of US$0.05 per common share, scheduled for payment on December 15, 2022. This dividend will benefit shareholders recorded as of the market close on November 30, 2022.
As a gold-focused streaming and royalty company with 80 assets, Triple Flag has exposure to gold and silver operations primarily in the Americas and Australia, encompassing 15 producing mines and numerous development and exploration projects.
Triple Flag Precious Metals Corp. (TFPM) reported Q3 2022 results, achieving net earnings of $12.8 million and a revenue of $33.8 million. The company declared a dividend of $0.05 per share, payable on December 15, 2022. Despite the year-over-year decline in GEOs sold, strong asset margins remained at 90% with low cash costs of $165 per GEO. The firm expects full-year GEO sales to be at the lower end of its guidance (88,000-92,000 GEOs). The company also highlights its new listing on the NYSE under the same symbol. Key challenges include lagging silver GEOs due to timing issues.
Triple Flag Precious Metals Corp. reported Q3 2022 revenue of $33.8 million from selling 19,523 gold equivalent ounces (GEOs). Compared to Q3 2021, revenue decreased from $37.1 million while GEO sales dropped from 20,746. Despite expectations for a stronger fourth quarter, the company aims to meet the lower end of its full-year GEO guidance. The average gold price for the quarter was $1,729 per ounce, down from $1,790 in the previous year. A conference call is scheduled for November 8, 2022, to discuss results.