Osisko announces Deliveries Received for the Second Quarter of 2020
Osisko Gold Royalties Ltd has received approximately 12,300 attributable gold equivalent ounces and recorded preliminary revenues of C$40.8 million during the three months ended June 30, 2020. Preliminary cost of sales, excluding depletion, was C$13.0 million resulting in a cash operating margin3 of approximately C$27.8 million. Excluding offtakes, Osisko’s cash operating margin on royalties and streams reached a record of 94.8% during the second quarter of 2020.
As a result of the COVID-19 pandemic, several of our assets were temporarily placed on care and maintenance by our operating partners during the second quarter, but the affected assets have now largely resumed operations.
Sean Roosen, Chair and CEO of Osisko commented: “In Q2, many of our assets were impacted by COVID-19, especially in Québec where mining was not deemed an essential service for some time. We support the actions taken by our operating partners to safeguard their employees, communities and as a result the assets themselves. For Osisko, that translated into a short revenue deferral on certain assets.”
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