Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

(Kitco News) – Osisko Gold Royalties (TSX, NYSE: OR) announced today it earned approximately 23,850 attributable gold equivalent ounces (GEOs) in Q3 2022, record deliveries for the company since inception in 2014.

Osisko said that the company recorded preliminary revenues from royalties and streams of C$53.7 million during Q3 2022 and preliminary cost of sales (excluding depletion) of C$4.4 million, resulting in a record quarterly cash margin of approximately C$49.3 million (or 92%).

The company added that during the third quarter, it purchased for cancellation a total of 1.3 million common shares for C$16.5 million (average acquisition price per share of C$12.77) under its NCIB program.

President and CEO Sandeep Singh commented, “We are delighted to have experienced another quarter of record deliveries, revenues and cash margin in Q3. These records were achieved despite the Eagle mine still working towards steady-state production, the gold price averaging US$142 per ounce lower quarter over quarter, and a meaningfully higher gold-silver price ratio used to convert silver deliveries into GEOs.

“The higher gold-silver price ratio, which has since subsided somewhat, decreased GEOs earned by approximately 850 ounces in the third quarter versus expectations. We believe our assets have the ability to end the year on a continued upswing and meet the low end of our guidance, with further increases from core assets expected in 2023.”

Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 165 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic gold mine.