Maverix Reports Record Financial Results for 2018

Maverix Metals (TSXV:MMX) announced record operating and financial results for the fourth quarter and year ended December 31, 2018.

Highlights are as follows:

• Full Year 2018 Financial Highlights
  • Record revenue of C$34.1 million;
  • Record operating cash flow of C$24.5 million, excluding changes in non-cash working capital
  • Adjusted net income of C$3.5 million
  • Record attributable gold equivalent ounces sold of 20,886 ounces
  • Average cash cost per attributable gold equivalent ounce of C$162 resulting in cash operating margins of C$1,468 per ounce and
  • At December 31, 2018, the company had cash of C$6.8 million, working capital of C$11.3 million and an undrawn capacity of US$37.7 million on its revolving credit facility to fund future acquisition and growth opportunities.

• Fourth Quarter 2018 Financial Highlights
  • Revenue of C$9.0 million;
  • Operating cash flow of C$7.0 million, excluding changes in non-cash working capital
  • Adjusted net income of C$0.7 million
  • Attributable gold equivalent ounces sold of 5,650 ounces; and
  • Average cash cost per attributable gold equivalent ounce of C$164 resulting in cash operating margins of C$1,429 per ounce.

Dan O’Flaherty, president and CEO of Maverix, commented:

Maverix had an exceptional 2018, achieving record revenue of over $34 million, an increase of 75% on 2017 and exceeding the high end of our 2018 guidance. Throughout the year, we continued to grow and strengthen our royalty and streaming portfolio, more than tripling its size and adding new cash-flowing assets. We look forward to continuing to build on this success with further growth and value creation in 2019

Click here to read the whole Maverix Metals (TSXV:MMX) press release.