sur Orogen Royalties Inc (isin : CA30051B1004)
Orogen Royalties Reports Record Q2-2024 Revenue and Profitability
Vancouver-based Orogen Royalties Inc. announced a significant increase in financial results for Q2-2024. The company achieved net income before tax of $1,069,473, up 713% from $131,616 in Q2-2023, driven by record royalty revenue.
Net comprehensive income, after a deferred income tax expense of $558,217, stood at $511,256, up 288% from the previous year. Royalty revenue reached $1,908,741, a 62% increase from Q2-2023, with 610 attributable gold equivalent ounces sold at an average price of $2,338 per ounce.
General and administrative expenses dropped 10% to $858,819, while cash flow from operations reached $1,695,612, an 86% increase from the same period last year. The company’s working capital rose to $22,996,411.
CEO Paddy Nicol attributed the strong performance to the Ermitaño mine, which continues to exceed initial production guidance. The company also highlighted ongoing exploration at the Ermitaño and the promising developments at the Expanded Silicon gold project in Nevada.
R. P.
Copyright © 2024 FinanzWire, tous droits de reproduction et de représentation réservés.
Clause de non responsabilité : bien que puisées aux meilleures sources, les informations et analyses diffusées par FinanzWire sont fournies à titre indicatif et ne constituent en aucune manière une incitation à prendre position sur les marchés financiers.
Cliquez ici pour consulter le communiqué de presse ayant servi de base à la rédaction de cette brève
Voir toutes les actualités de Orogen Royalties Inc