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Osisko Development Intersects 17 16 g/t Gold Over 10 7 Meters at Valley Zone at Cariboo and Announces Annual Grant of Stock Options and RSUs to Officers
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Osisko Reports Strong First Quarter 2021 Results
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4 of $5.0 million, or $0.03 per basic share
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Sandeep Singh, President and CEO of Osisko commented on the activities of the first quarter of 2021: The first quarter saw our royalty and streaming business continue to generate record cash margins and strong operating cash flows. This bodes well as our operating assets continue to perform, ramp up and expand over the coming quarters. We were also able to, relatively cheaply, acquire medium and longer-term royalty exposure to some highly promising exploration and development properties while maintaining a disciplined approach to growth.
In Q1, we also progressed our ambition to be a leader in the Environmental, Social and Governance ( ESG ) space with the publication of our inaugural ESG report and by entering into an investment and strategic partnership with Carbon Streaming Corp. The partnership leverages our streaming expertise to fund capital projects that reduce greenhouse gas emissions.
PRELIMINARY Q4 2020 SALES
Osisko received approximately 18,800 attributable gold equivalent ounces1 (?GEOs?) in the fourth quarter of 2020, for a total of approximately 66,100 GEOs in 2020, exceeding the revised guidance of 63,500 ? 65,500 GEOs. These figures exclude 1,750 GEOs earned from the Renard diamond stream in the fourth quarter of 2020 from diamonds sold from inventories by the operator. The net proceeds from the Renard diamond stream were reinvested through the bridge loan with the operator of the mine.
Osisko recorded preliminary revenues2 of C$64.5 million during the fourth quarter. Preliminary cost of sales2, excluding depletion2, was C$18.2 million resulting in a cash operating margin3 of approximately C$46.3 million. These figures include preliminary revenues2 from the Renard diamond stream of C$4.3?million, costs of sales, excluding depletion2, of C$1.9 million resulting in an operating cash margin of C$2.4 million.
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