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Triple Flag announces record metal sales for 2021

Published by , Editor
Global Mining Review,

Triple Flag Precious Metals Corp. has announced record metal sales of 83 602 gold equivalent ounces (GEOs) for 2021. This represents a new annual record, exceeding 2020’s record by 33% and exceeding 2021 guidance of 80 000 – 83 000 GEOs. Triple Flag achieved record annual revenues of US$150.4 million for 2021, an increase of 34% over 2020. Triple Flag also announced metal sales of 20 605 GEOs for 4Q21, resulting in revenues of US$37 million in the quarter.

“2021 was a truly transformational year for Triple Flag,” commented Shaun Usmar, Founder and CEO. “We successfully completed our US$250 million initial public offering (IPO) in May, with a further US$14 million over-allotment option completed in June 2021. As we enter our sixth year, I’m particularly proud of our team’s track record of setting successive annual GEOs records for every year since our founding in 2016. These latest results further increase our sector-leading GEOs CAGR to 26%. Our fully funded embedded growth is projected to continue, as per our 10-year GEOs outlook, while our disciplined deal making track record offers the potential for further significant accretive growth beyond those projections. Our deal pipeline is robust with opportunities at various stages in the deal process.

“During the full year of 2021, our business sold 83 602 GEOs, exceeding our guidance of 80 000 – 83 000 GEOs. This represents an increase of 33% over 2020 GEOs, driven by the continued ramp-up of newly constructed mines, a full year of contribution from Northparkes, and a significant y/y increase in Cerro Lindo deliveries, which more than offset COVID-19 related production deferrals experienced by ATO due to associated supply chain disruptions. We are poised to benefit from further fully funded and embedded growth in 2022, as we expect ATO to resume production following receipt of key reagents, combined with the continued ramp-up of newly constructed mines such as Buriticá, Dargues, and Pumpkin Hollow.

“As part of our value-driven growth activities, we recently announced the acquisition of three royalties proximal to Gold Fields’ Salares Norte Project at the end of December 2021. In addition, our partner, Talon Metals Corp., recently announced an agreement with Tesla Inc. for the supply of nickel concentrate while continuing to advance its Tamarack Nickel project, targeting production by 2026.”

Preliminary FY21 and 4Q21 sales and revenue

Triple Flag sold 83 602 GEOs in FY21 and 20 605 GEOs in 4Q21, resulting in US$150.4 million and US$37 million in revenue for the full year 2021 and 4Q21, respectively.

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Gold mining news Nickel mining news Precious metals mining news