Franco-Nevada Corp (NYSE:FNV) Q3 2023 Earnings Conference Call November 9, 2023 8:00 AM ET

Company Participants

Candida Hayden - IR Contact

Paul Brink - President and Chief Executive Officer

Sandip Rana - Chief Financial Officer

Eaun Gray - Senior Vice President of Business Development

Conference Call Participants

Heiko Ihle - H.C. Wainwright

Brian MacArthur - Raymond James

Adrian Day - Adrian Day Asset Management

Operator

Good morning, and welcome to Franco-Nevada Corporation's Third Quarter 2023 Results Conference Call and Webcast. This call is being recorded on November 9, 2023. At this time all lines are in listen-only mode. Following the presentation, we will conduct a Q&A session where you may ask a question through the phone line or webcast. [Operator Instructions]

I would now like to turn the conference over to your host, Candida Hayden, Senior Analyst, of Investor Relations. Please go ahead.

Candida Hayden

Thank you, Jerry. Good morning, everyone. Thank you for joining us today to discuss Franco-Nevada's third quarter 2023 results. Accompanying this call is a presentation, which is available on our website at franco-nevada.com where you will also find our full financial results. The presentation is also available to view on the webcast.

During our call this morning, Paul Brink, President and CEO of Franco-Nevada, will provide introductory remarks; followed by Sandip Rana, Chief Financial Officer, who will provide a brief review of our results. This will be followed by a Q&A period. Our full executive team is available to answer any questions. Participants may submit questions by telephone or via the webcast. We would like to remind participants that some of today's commentary may contain forward-looking information, and we refer you to our detailed cautionary note on Slide 2 of this presentation.

I will now turn over the call to Paul Brink, President and CEO of Franco-Nevada.

Paul Brink

Thanks Candida and good morning. We were saddened holding our Board yesterday with an empty seat after the passing of Randall Oliphant on early in September. Randall was a leader in the gold mining industry, had been a strong presence in our boardroom for 16 years and played a big role in our company's success. He is missed by all of us at Franco-Nevada.

Our core precious metal assets anchored the third quarter results. Both precious metal GEOs and revenues were up over the same period last year. Total revenues increased, although total GEOs were slightly down, in part due to gold prices being relatively stronger than oil and gas and iron ore prices. Both quarter GEOs are expected to be slightly higher than the third quarter. The corporate Cobre Panama CP100 expansion is on track for year end and we expect the core streams to perform well.