Osisko Gold Royalties Ltd (NYSE:OR) Q2 2022 Earnings Conference Call August 10, 2022 10:00 AM ET
Company Participants
Sandeep Singh - President and CEO
Frédéric Ruel - CFO and VP, Finance
Conference Call Participants
Ralph Profiti - Eight Capital
Trevor Turnbull - Scotia Bank
John Tumazos - John Tumazos Independent Research LLC
Carey MacRury - Canaccord Genuity
Adrian Day - Adrian Day Asset Management
Operator
Good morning, ladies and gentlemen, and welcome to Osisko Gold Royalties Q2 2022 Results Conference Call. [Operator Instructions] Please note that this call is being recorded today, August 10, 2022, at 10:00 a.m. Eastern Time.
Today on the call, we have Mr. Sandeep Singh, President and Chief Executive Officer; and Mr. Frédéric Ruel, Chief Financial Officer and Vice President, Finance.
I now would like to turn the meeting over to your host for today, Mr. Sandeep Singh. [Foreign Language]
Sandeep Singh
Thank you so much, operator, and thanks to everyone listening in. Hopefully, you can hear me okay. Happy to be with you to update you on the quarter. It was an interesting quarter certainly from a market perspective, quite volatile, the swings were quite swift, notwithstanding that for $0.02 it's worth, I think the backdrop for gold that remained extremely strong even in the face of what's been a very strong U.S. dollar and rising rates. Regardless, even in that volatility and maybe as a result of that volatility, we still had a record quarter on a number of fronts.
As I update you on that, I will be referring to the presentation that's now on the website, and I'll jump right into it after reminding people that I will be making forward-looking statements as shown on Slide 2.
We can probably jump right to Slide 4 entitled Q2 2022 highlights. As I said, I won't read through all the bullets. I'm sure most of you, all of you have read the release and already commented on that, frankly. But a record in a number of fronts, first and foremost, which drives our business is the geo deliveries, the ounces that were delivered to us by our partners, gapping up nicely from Q1 to Q2 to 22,200 GEOs. That makes the first half of the year just roughly 40,500 GEOs delivered to us.
And I'll talk about our guidance on maybe the next slide of 90% to 95%, but we do expect a significant uptick in the second half of the year, at least sequentially over the next couple of quarters. for reasons that I'll go through, but hopefully are relatively obvious when I do. So that bodes well, a record in terms of GEOs, a record in terms of cash margins and a strong bottom line in the quarter and a better, stronger second half for very obvious reasons in front of us. I will point out perhaps maybe just make one obvious point from those people.