March 5, 2020, Vancouver, British Columbia – Maverix Metals Inc. (the “Company” or “Maverix”) (NYSE American & TSX: MMX) is pleased to announce record operating and financial results for the fourth quarter and year ended December 31, 2019.
For complete details please refer to the Financial Statements and associated Management Discussion and Analysis for the quarter and year ended December 31, 2019, available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) or on the Company’s website (www.maverixmetals.com).
All dollar amounts are in Canadian dollars (“CAD”) unless otherwise indicated.
Full Year 2019 Financial Highlights - Record revenue of $44.7 million;
- Record attributable gold equivalent ounces produced of 26,668 ounces1 and record attributable gold equivalent ounces sold of 24,0212;
- Record cash flow from operating activities, excluding changes in non-cash working capital of $31.3 million2;
- Record cash flow from operating activities of $27.7 million;
- Average cash cost per attributable gold equivalent ounce sold of $217, resulting in cash operating margins of $1,645 per ounce2;
- Adjusted net income of $9.2 million2;
- Net loss of $10.2 million as a result of a non-cash impairment of $18.9 million on the fixed payment agreement from the Amulsar project; and
- On March 4, 2020, Maverix’s Board of Directors declared a quarterly cash dividend of US$0.01 per common share to be payable on or about April 15, 2020, to shareholders of record as of March 31, 2020.
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