TSX- and NYSE-listed Triple Flag Precious Metals Corporation has announced that it has delivered strong results for the third quarter ended September 30, driven by operating cash flow of $0.45 a share, up 15% year-on-year.

The company says it remains on track to achieve sales between the mid to top half of its increased guidance of 100 000 to 110 000 gold-equivalent ounces (GEOs) for the year to end on December 31. Triple Flag says its 2030 outlook of between 150 000 and 160 000 GEOs remains unchanged.

Triple Flag's board of directors approved the declaration of a quarterly cash dividend of $0.06 per common share that will be paid on December 15 to shareholders of record at the close of business on November 30.

The company reported a year-on-year revenue increase of $106.7-million and production of 25 030 GEOs for the third quarter. Net earnings per share in the period were $64.2-million, or $0.31 a share, while adjusted net earnings were $53.1-million, or $0.26 a share.

Operating cash flow was $92-million for the quarter while adjusted earnings before interest, taxes, depreciation and amortisation were $93.7-million.

The company reports that sales from the Ravenswood mine, in Australia, for the third quarter were 1 491 GEOs, reflecting the first quarter of deliveries under the gold stream acquired in June.

The company explains that Ravenswood is one of the ten largest gold mines in Australia by ore reserves, with a long history of continuous operation, and is expected to produce more than 200 000 oz/y of gold at steady state. The company says in-pit and near-mine exploration upside present a significant opportunity to extend the mine life across a large and prospective 1 800 km² land package.

CEO Sheldon Vanderkooy says top-tier operators also continued to advance the development of assets within the company’s large and diversified portfolio.

Meanwhile, he also congratulates TSX- and Nasdaq-listed SSR Mining on its recent announcement that it will acquire the Converse gold project, in the US.

He says SSR Mining’s acquisition will establish a clear path to production for Triple Flag’s royalty at Converse as an extension of the Marigold Complex in Nevada, with production of between 150 000 oz/y and 170 000 oz/y of gold over more than ten years.

“We also recently saw first gold poured ahead of schedule at Koné [in Côte d'Ivoire] this past September, with GEOs from this royalty ramping up through 2027. We are also pleased to see [the Prieska copper/zinc mine, in South Africa,] advance into development, with production from the first phase expected by the end of 2027,” he says.

Moreover, Vanderkooy notes that, at Polo Sur, Antofagasta is evaluating the inclusion of oxide material in Centinela’s near-term mine plan, which could bring forward GEOs that Triple Flag had expected only beyond 2030.

Finally, at Northparkes, he says the company continues to expect impressive long-term growth from its flagship asset as Evolution advances a mill expansion study that will evaluate higher throughput of ten-million tonnes to 11-million tonnes a year to accelerate processing of its significant resource base.

“Looking ahead, our deal pipeline is robust, and we have in excess of $1.1-billion in available liquidity to pursue accretive opportunities. As part of our rigorous capital allocation framework, Triple Flag repurchased a further $20-million of shares during the third quarter under our normal course issuer bid,” he says.