Maverix Metals (MMX.TO, MMX) nonetheless has to report its monetary outcomes for FY 2020, however the firm has already offered a manufacturing replace. The royalties and streams it owns on the assorted initiatives resulted in an attributable manufacturing of 8,836 ounces of gold equal, which is 25% greater than the quantity of attributable ounces within the fourth quarter a yr in the past.
This introduced the full-year attributable gold output to simply underneath 29,000 ounces (on an equal foundation) which isn’t solely 20% greater than in 2019, but it surely additionally exceeds the steering for 2020. For 2021, Maverix is guiding for an attributable output of 27-30,000 ounces of gold (on a gold-equivalent foundation) the place it intends to have a 90% money margin. On the present gold value of $1800/oz, 2021 is shaping as much as be one other wonderful yr for Maverix.
Maverix has additionally boosted its money stability. Whereas the corporate acquired US$50M from Agnico Eagle Mines (AEM, AEM.TO) which repurchased a 1.5% NSR on the Hope Bay gold mine (which we defined HERE), Maverix additionally bought C$9.8M value of Northern Vertex (NEE.V) shares which lately accomplished the merger with Eclipse Gold. Taking all these transactions into consideration, Maverix Metals is now debt free, has about US$50M in money and short-term investments whereas retaining its entry to a US$120M credit score facility. This implies the corporate has entry to about US$170M in liquidity to supply new offers.
Maverix additionally introduced a quarterly dividend of US$0.01 per share, payable on March 15th.
Disclosure: The creator has an extended place in Maverix Metals. Maverix is a sponsor of the web site. Please learn our disclaimer.