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Franco-Nevada Reports Q2 Results

by pmnationtalk on August 9, 201874 Views

August 08, 2018

New Strategic Relationship with Continental Resources

“We are pleased to have entered into a first-of-its-kind mineral rights acquisition relationship with Continental Resources, Inc. Continental is the leading operator in the SCOOP and STACK oil & gas plays in Oklahoma,” commented David Harquail, CEO. “We are excited to be able to work together to grow our royalty revenues effectively through grass-roots acquisitions.”

“For 2018, we are increasing our oil & gas guidance while at the same time modestly tempering our guidance for our mining assets. Our precious metals stream at Candelaria is temporarily producing largely from stockpiles. For 2019, we expect improved production from Candelaria and to benefit from the ramp-up of our major precious metals stream at Cobre Panama. We also expect on-going growth from our U.S. oil & gas assets complimented by our new Continental relationship.”

Q2/2018 Financial Highlights

  • $161.3 million in revenue
  • 107,333 Gold Equivalent Ounces1 (“GEOs”) sold
  • $126.3 million of Adjusted EBITDA2 or $0.68 per share
  • $53.6 million of net income or $0.29 per share
  • $53.7 million of Adjusted Net Income3 or $0.29 per share
  • $158.4 million in working capital at quarter-end and no debt

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