掀开奶罩边躁狠狠躁苏玥视频,无码专区3d动漫精品,去阳台跪着把屁股抬起来,精品国产丝袜黑色高跟鞋


Franco-Nevada posts record Q3 revenues, income

  • Monday, November 9, 2020
  • Source:ferro-alloys.com

  • Keywords:Franco-Nevada
[Fellow]Franco-Nevada posts record Q3 revenues, income

[ferro-alloys.com]With most major mining assets back up and running after coronavirus-related stoppages earlier this year, and amidst strong commodity prices, Franco-Nevada (TSX: FNV; NYSE: FNV) has reported record third-quarter financial results. These include new records in revenues recorded, at $279.8 million, adjusted EBITDA, which hit $235.1 million, and net income, at $153.9 million.

In the quarter, Franco-Nevada sold 134,817 gold-equivalent oz. (GEO), at cash costs of $290 per GEO. The resulting revenues from mining-related sales totalled $257 million, with a further $22.8 million from energy sales.

Franco-Nevada said in a news release that it continues to lead its peer group with “the highest EBITDA margins” and a record earnings margin of 55% in the quarter.

“It is exciting for the future to see the level of organic growth across our portfolio of producing, advanced and exploration assets,” Paul Brink, Franco-Nevada’s CEO, said in the press release.

With strong third quarter performance, the royalty company expects to meet the high end of its 2020 production guidance range of 475,000 to 505,000 GEOs. One caveat is a strike at Lundin Mining’s (TSX: LUN) Candelaria mine in Chile, where, on Oct. 28, the miner reported a temporary suspension of operations due to labour strikes by the union. Lundin withdrew its guidance for Candelaria as a result. Franco-Nevada holds a gold and silver stream on the copper-gold-silver mine.

If the strike is “resolved and operations resume in the near term,” the company does not expect impacts to its projections for the year.

The company closed out the quarter with $466.8 million in cash and equivalents and no debt. Its board has declared a quarterly dividend, of 26¢ per share, payable on Dec. 17 to shareholders of record on Dec. 3. Also in the third quarter, Franco-Nevada issued 144,900 shares under its at-the-market equity program, for net proceeds of $21.4 million.

In addition, Franco-Nevada in the third quarter added 25 new royalties to its portfolio, for a total of 316 mining-related assets.

Portfolio additions in the quarter included the closing of a 1% net smelter return (NSR) royalty acquisition on all minerals produced from the Alpala copper-gold-silver project in Ecuador for $100 million. In September, the company also acquired a portfolio of 24 royalties from Freeport-McMoRan (NYSE: FCX) for $30.6 million. These included 1% royalties on Wallbridge Mining’s (TSX: WM) Fenelon and Northway-Noyon projects, as well as a 2% NSR on the junior’s Martiniere property.

Later that month, Franco-Nevada also added a 2% NSR on all mineral production from Gold Fields’ (NYSE: GFI) Rio Baker concessions in Chile, for $5 million in cash and up to $8 million in contingent payments. These claims cover the extension of the Salares Norte gold-silver deposit.

Midday Thursday, Franco-Nevada’s stock was up nearly 7% on the NYSE. The company has a $28 billion market capitalization.

(Mining.com)

  • [Editor:王可]

Tell Us What You Think

please login!   login   register
Please be logged in to comment!
主站蜘蛛池模板: 思南县| 安义县| 大港区| 红原县| 宿松县| 剑川县| 建平县| 平潭县| 象州县| 南通市| 资溪县| 凤山县| 平利县| 台中县| 阿拉善盟| 东城区| 长治县| 漠河县| 常熟市| 鹤壁市| 衡南县| 镇远县| 苍溪县| 峨眉山市| 翼城县| 金秀| 台湾省| 山丹县| 大竹县| 正安县| 达拉特旗| 大同市| 来宾市| 巴林左旗| 石景山区| 沙雅县| 城口县| 射阳县| 甘孜县| 岚皋县| 晋城|