Osisko Gold Royalties Reports Record Quarterly Gold Ounces Earned

Osisko Gold Royalties (TSX:OR) announced that in Q3 it achieved record quarterly gold ounces earned of 8,264 and ounces sold of 7,795. Silver ounces earned came to 7,780 and silver ounces sold came to a total of 7,280.
Net earnings came in at $9.8 million, or $0.10 per share, while adjusted net earnings were $15 million, or $0.16 per share. The company also announced a Q4 dividend of $0.04 per share — it’s payable on January 15, 2016 to shareholders of record as of close of business on December 31, 2015.
Other Q3 highlights are as follows:

• Net cash flows provided by operating activities^[2] of $10.2 million;
• Total value of working capital and marketable securities of $429.5 million;
• Implementation of a Dividend Reinvestment Plan; and
• Declaration of a quarterly dividend of $0.03 per common share paid on October 15, 2015 to shareholders of record as of the close of business on September 30, 2015.

Sean Roosen, chair and CEO of Osisko, commented:

We would like to congratulate the Partnership and the Canadian Malartic employees on pouring its 2 millionth ounce at Canadian Malartic during the quarter. Canadian Malartic continues to deliver strong results, being yet again the largest gold mine in Canada during the quarter. As the Éléonore mine continues its ramp up period, we expect it to start generating revenues for Osisko during the fourth quarter of 2015. During the third quarter, we also continued our strategy of investing in companies and projects that we believe have the potential to provide Osisko with domestic, long life assets with strong cash flow.

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