With most major mining assets back up and running after COVID-related stoppages earlier this year, and amidst strong commodity prices, Franco-Nevada has reported record third-quarter financial results.
These include new records in revenues recorded, at US$279.8 million, adjusted EBITDA, which hit US$235.1 million, and net income, at US$153.9 million.
In the quarter, Franco-Nevada sold 134,817 gold-equivalent oz. (GEO), at cash costs of US$290 per GEO. The resulting revenues from mining-related sales stand at US$257 million, with a further US$22.8 million from energy sales.
The release adds that Franco-Nevada continues to lead its peer group with “the highest EBITDA margins” and a record earnings margin of 55% in the quarter.
“It is exciting for the future to see the level of organic growth across our portfolio of producing, advanced and exploration assets”, Paul Brink, Franco-Nevada’s CEO, said in a release.
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