Shaun Usmar, Founder, CEO, and Director of Triple Flag Precious Metals (TSX: TFPM) (NYSE: TFPM), joins us for an update on operations growth and royalty partners updates.   Of their 234 total royalties and streams, there are 32 paying assets in production, 41 assets in development, and 161 assets at the exploration stage.   We start off reviewing how the company has continued growing and diversifying since our conversation early last year, right after their acquisition of Maverix Metals (NYSE: MMX), and how they are approaching future accretive acquisitions and creating royalties with mining partners.

Shaun outlines that their portfolio achieved the seventh consecutive annual gold equivalent ounces (GEOs) record for Triple Flag and a compound annual growth rate in GEOs of more than 20% since 2017, while delivering 105,087 GEOs meeting their sales guidance for 2023.  In 2024, the Company expects attributable royalty revenue and stream sales of 105,000 to 115,000 GEOs, and they are targeting a 5-year average moving forward of approximately 140,000 gold equivalent ounces from 2025 – 2029. Triple Flag PMs renewed their quarterly dividend of US$0.0525 per common share, and also renewed their normal course issuer bid to continue purchasing back shares of the Company.

We outline some of the key cornerstone assets in the portfolio of projects, such as the major contribution from the gold and silver streams on Northparkes and Cerro Lindo mines, or the cash-flowing producing royalties from Fosterville, Young-Davidson, RBPlat, Buritica, Beta Hunt, Camino Rojo, assets with a clear focus on precious metals in the Americas and Australia. 

In addition to the strength of the operators for the 32 assets already in production, we discuss the how the Triple Flag team vets the upside optionality for exploration and development on their overall large basket of royalties and streams, in tandem with exposure to overall land packages to capture future growth and investment.  Shaun outlines the extensive pipeline of growth projects including Hope Bay, Eskay Creek and Koné continued to advance down the development path.

If you have any questions for Shaun regarding Triple Flag, then please email us at either Shad@kereport.com or Fleck@kereport.com.

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