Osisko Gold Royalties (NYSE:OR) Q1 2022 Earnings Conference Call May 12, 2022 8:00 AM ET

Company Participants

Sandeep Singh – President and Chief Executive Office

Frederic Ruel – Vice President of Finance and Chief Financial Officer

Conference Call Participants

Trevor Turnbull – Scotiabank

Operator

Good morning, ladies and gentlemen. And welcome to the Osisko Gold Royalties Q1 2022 Results Conference Call. After the presentation, we will conduct a question-and-answer session. [Operator Instruction] Please note that this call is being recorded today, May 12, 2022 at 8:00 AM Eastern time. Today on the call, we have Mr. Sandeep Singh, President and Chief Executive Officer, and Mr. Frederic Ruel, Chief Financial Officer and Vice President Finance. I will now like to turn the meeting over to our host for today's call, Mr. Sandeep Singh. [Indiscernible]

Sandeep Singh

Thanks very much, Operator. And good morning, everybody. Thanks for being with us. On a busy day, probably and a busy week, to appreciate your time. We'll go through a short presentation, Fred and I, and then we'll certainly open it up for questions. Just note that I'll be referring to the presentation that's now on the website. Jumping in on Slide 3, just in terms of highlights for the quarter, we'll obviously pre -release our GEOs at 18.25,000 for the quarter. With that, comes a lot of information given our business model, but happy to fill in the gaps for the rest of this morning.

That excludes GEOs from Renard stream as you've probably gotten used to us doing for the last significant period of time. Happy to report that hopefully, that's the last plan we have to say that with the Renard stream having been reactivated over the course of the quarter, as we had previously guided, so I think that's a very important step for us. Combination of the mine doing better than [Indiscernible] market having recovered. So that's a very good news for us, not only is the stream been reactivated, but the last half of the working cap facility has also been repaid to us and the other lenders to our account that was CAD 3.94 million.

So happy with the progress there. Revenues from the royalties and streaming segment of just over CAD 50 million operating cash flows as well, just over CAD 40 million. So we continue to benefit from our business model with the highest cash margins in our history last quarter, obviously based on the gold price having been quite strong. The margin at 94%, again, continues to track exactly towards our guidance. Adjusted earnings, again, from that segment of CAD 0.15 per share. And over the course of the quarter, we completed [Indiscernible] financing, but you're all well aware of. Timing those things is always challenging. Obviously, we were busy on the corporate development side on the new acquisition side in Q1 and that's largely what that funding is meant to go towards.