Osisko Gold Royalties Reports 2015 Net Earnings of $28.5 Million

Osisko Gold Royalties Ltd. (TSX:OR) released its results for Q4 2015, as well as the year as a whole. For the full 2015 year, the company reported net earnings of $28.5 million, or $0.03 per share.
Other 2015 highlights include:

• 30,125 gold ounces earned and 30,104 ounces sold (2014 – 12,327 ounces earned and sold);
• 31,318 silver ounces earned and 31,263 ounces sold (2014 – 11,915 ounces earned and sold);
• Revenues of $45.4 million (2014 – $17.2 million);
• Dividend income mainly from holdings in Labrador Iron Ore Royalty Corporation (“LIORC”) of $5.9 million;
• Net earnings of $28.5 million, $0.33 per basic share (2014¹ – net loss of $2.1 million, $0.05 per basic share);
• Adjusted earnings² of $40.4 million, $0.46 per basic share2 (2014 – $10.1 million and $0.22 per basic share);
• Net cash flows provided by operating activities³ of $32.2 million (2014¹ – $5.9 million);
• Total value of working capital and marketable securities of $380.5 million at December 31, 2015;

Sean Roosen, chair and CEO of Osisko, commented:

In its first 20 months of existence, Osisko has raised a total of approximately $500 million in capital (including convertible debt), completed over $775 million in transactions, and has diversified its portfolio of Canadian gold royalties through the addition of the Éléonore, Island Gold and Lamaque royalties. Osisko is in a unique position to deliver on its strategy of growing its gold royalty portfolio with current cash and cash equivalents of approximately $450 million following its recent financings, with another $150-200 million of available credit.

Click here to read the full Osisko Gold Royalties Ltd. (TSX:OR) press release.