Franco-Nevada Reports Strong Q2 Results

Franco Nevada reports strong Q2 results. For Q2/2017, revenue was sourced 91.9% from precious metals (71.2% gold, 13.9% silver and 6.8% PGM) and 82.2% from the Americas (15.8% U.S., 19.9% Canada and 46.5% Latin America). Operating costs and expenses increased year-over-year due to the increase in the number of GEOs sold during the quarter.
As quoted in the press release:

“Franco-Nevada’s diversified portfolio continues to perform very well” commented David Harquail, CEO.  “We are now expecting to finish 2017 at the higher end of our original gold equivalent ounce guidance.  The exercise of our 2017 warrants during the second quarter has raised $356 million.  That brings our cash and cash equivalents to over $600 million and we have another $1.1 billion in available credit facilities.  Franco-Nevada is very active in both precious metals and Oil & Gas investment opportunities and I am confident we can add further assets in each category before year end.”

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