NEWS - Nomad has Q3 prelim precious metals sales of $5M (U.S Nomad has Q3 prelim precious metals sales of $5M (U.S.)
2021-10-14 17:21 ET - News Release
Mr. Vincent Cardin-Tremblay reports
NOMAD ANNOUNCES PRELIMINARY Q3 2021 DELIVERIES
Nomad Royalty Company Ltd. has noted its preliminary deliveries and sales from its royalty and stream interests for the third quarter of 2021. (All amounts are in United States dollars unless otherwise noted.)
The company realized preliminary revenues (4) from its precious metal interests of $5.1-million and $19.4-million for the three- and nine-month periods ended Sept. 30, 2021, respectively, resulting in preliminary precious metals cash operating margin (4)(5) of $4.4-million and $16.4-million, respectively. Additionally, the total gross amount receivable from the Caserones copper royalty for the three-month period ended Sept. 30, 2021, is estimated at $2.0-million (1,112 gold equivalent ounces (3) attributable to Nomad's 67.5-per-cent ownership interest in CMC (6)). The company received $1.7-million in September, 2021 (942 attributable gold equivalent ounces) in connection with CMC's Q2 2021 activities.
Notes:
Nomad has included certain performance measures in this press release that do not have any standardized meaning prescribed by international financial reporting standards (IFRS) including gold equivalent ounces, cash operating margin, and cash costs of gold and silver sold. These non-IFRS measures do not have any standardized meaning prescribed by IFRS, and other companies may calculate these measures differently. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
(1) Preliminary gold deliveries include gold equivalent ounces of cash settled amounts for the RDM and Moss net smelter return royalties.
(2) The company's royalty and stream revenues are converted to gold equivalent ounces by dividing revenues for a specific period by the average realized gold price per ounce for the gold stream revenues and by dividing revenues by the average gold price for the gold royalty revenues, for the respective period. Silver earned from royalty and stream agreements are converted to gold equivalent ounces by multiplying the silver ounces by the average silver price for the period and dividing by the average gold price for the period.
(3) The company's gross amount received or receivable from the Caserones copper royalty is converted to gold equivalent ounces by dividing the dividend received or receivable before taxes for a specific period by the average gold price, for the respective period.
(4) The financial information disclosed in this press release is preliminary, subject to final quarter-end closing adjustments, and may change materially.
(5) Cash operating margin is calculated by subtracting the cash costs of gold and silver sold from revenues. The company presents cash operating margin as management and certain investors use this information to evaluate the company's performance in comparison to other streaming and royalty companies which present results on a similar basis as well as to evaluate the company's ability to generate cash flow.
(6) On Aug. 31, 2021, the company completed the acquisition of an additional 37.5-per-cent ownership interest in Compania Minera Caserones (CMC), a private Chilean company which holds the payment rights to 32.5 per cent of a 2.88-per-cent NSR royalty on the Caserones copper mine in Chile representing an effective 0.651-per-cent NSR royalty (the Caserones copper royalty).
Notice of Q3 2021 results release
The company expects to release its results for the third quarter of 2021 on Nov. 3, 2021, after market close.
Qualified person
Vincent Cardin-Tremblay, PGeo, vice-president, geology, of Nomad Royalty is the qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects who has reviewed and approved the technical content of this news release.
About Nomad Royalty Company Ltd.
Nomad Royalty Company is a gold and silver royalty company that purchases rights to a percentage of the gold or silver produced from a mine, for the life of the mine. Nomad owns a portfolio of 15 royalty and stream assets, of which eight are on currently producing mines. Nomad plans to grow and diversify its low-cost production profile through the acquisition of additional producing and near-term producing gold and silver streams and royalties.
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