Triple Flag Provides Q2 2020 Update

TORONTO, July 10, 2020 /CNW/ – Triple Flag Precious Metals Corp. (“Triple Flag“) today provides an update on the second quarter of 2020.

“The second quarter of 2020 marks yet another new record for Triple Flag, with 16,115 GEOs sold during the quarter. This performance was driven by solid delivery from our core producing streams and royalties and strong contributions and growth from our ramp-up assets” commented Shaun Usmar, Founder and CEO. “The COVID-19 pandemic temporarily impacted some operations and projects during the second quarter of 2020, but our partners have done a remarkable job of prioritizing the health and well-being of their employees and nearby communities, particularly as they return to full production. We expect to see some impact on GEOs extending into the second half of the year, although this is being partially offset with growing ounces from our ramp-up assets, which puts us on track for another year of double-digit growth in GEOs and cash flow in 2020. The low-risk and defensive nature of the streaming and royalty business model has been on full display throughout the COVID-19 pandemic and associated disruptions, with Triple Flag’s portfolio exemplifying resilience due to its diversification, high quality, and sector-leading fully-funded embedded growth. We generated a record $27.6M in revenue during the second quarter, up 49% from the first quarter of 2020 and 110% from the same period in 2019.

Triple Flag benefits from asset and jurisdictional portfolio diversity, ample liquidity, investments in several fully-funded mines transitioning from construction to operation, a robust balance sheet, high cash margins and an ability to deploy substantial capital into the mining sector for attractive assets. Each of these factors contributes to our focus on generating value for our investors through our portfolio quality and resilience, sector-leading growth and our demonstrated ability to intelligently compete for quality assets.”

Q2 2020 Sales Highlights

• Revenue of $27.6 million, up 110% from the same period in the prior year and a new record for our business.
• 16,115 Gold Equivalent Ounces (“GEOs“) sold, an increase of 61% from the same period in the prior year, despite the impact of COVID-19.

GEO Sold and Revenue by Commodity

Operational Updates

• Young–Davidson: Alamos Gold Inc. announced (July 8, 2020) that it had completed the lower mine expansion at Young–Davidson with the successful commissioning of the Northgate shaft. Mining rates are expected to ramp up through the second half of the year to 7,500 tonnes per day by the end of 2020.
• ATO: Steppe Gold Limited (“Steppe“) announced (July 6, 2020) commercial production at its ATO gold mine, following sales of 15,389 ounces of gold and…