Osisko Gold Reports Strong Q3 2024 Gold Deliveries and Financial Performance

authorIntellectia.AI2024-10-09
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OR.N
Illustration by Intellectia.AI

Osisko Gold has announced its third quarter 2024 preliminary results, highlighting significant achievements in gold deliveries and financial stability. The company reported earning 18,408 attributable gold equivalent ounces, underlining its strong operational performance. During Q3 2024, Osisko generated preliminary revenues of $57.3 million from royalties and streams, with a cost of sales of $2.2 million, resulting in an impressive cash margin of approximately $55.1 million.

Financially, Osisko maintained a robust cash position of $58.5 million as of September 30, 2024. The company also managed its debt efficiently, with the revolving credit facility drawn by $80.7 million, leaving an additional $469.3 million available, plus an uncommitted accordion of up to $200.0 million. Notably, Osisko reduced its net debt position to $22.2 million, following debt repayments totaling $27.3 million during the third quarter. These results underscore Osisko's strategic financial management and operational success in the gold industry.

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