Osisko Gold Royalties Ltd (NYSE:OR) Q2 2024 Results Conference Call August 7, 2024 10:00 AM ET
Company Participants
Jason Attew - President and Chief Executive Officer
Frederic Ruel - Chief Financial Officer & Vice President of Finance
Conference Call Participants
Ralph Profiti - Eight Capital
Josh Wilson - RBC Capital Markets
Tanya Jakusconek - Scotiabank
Brian MacArthur - Raymond James
Operator
Good morning, ladies and gentlemen, and welcome to the Osisko Gold Royalties Q2 2024 Results Conference Call. After the presentation, we will conduct a question-and-answer section. [Operator Instruction] Please note, that this call is being recorded today, August 7, 2024 at 10:00 AM Eastern time.
Today on the call we have Mr. Jason Attew, President and Chief Executive Officer; and Mr. Frederic Ruel, Chief Financial Officer and Vice President of Finance.
I would now like to turn the meeting over to our host for today’s call, Mr. Jason Attew.
Jason Attew
Thank you, Joelle. Good morning, everybody, and thanks for being on today’s call on this beautiful summer’s day. I’m Jason Attew, President and CEO of the Osisko Gold Royalties. Procedurally, I will run through the presentation and then we will sub subsequently open up a line for questions.
For those participating online via the webcast, you can submit your questions in advance through the webcast platform. Today’s presentation will also be available and downloadable online through our corporate website.
Please note, that there are forward-looking statements in this presentation for which actual results may differ. Also, please note the basis of presentation will be in Canadian dollars, unless otherwise noted. I’m joined on the call this morning by Fred Ruel, the company’s VP Finance and Chief Financial Officer, amongst the others as indicated on slide three.
When looking at Osisko second quarter and first six-months of 2024, we have had a solid first half as it relates to gold equivalent ounces earned, cash margin, cash flows, as well as overall debt reduction.
Osisko earned 20,068 gold equivalent ounces in the second quarter of 2024, which had put us in a good position on June 30th to achieve our previously published full-year guidance of 82,000 to 92,000 GEOs.
Revenues for the period were strong in Q2 at 64.8 million, buttress mainly by improving precious metal prices throughout the period. In addition, the Osisko’s cash margins remained high at 97% during the quarter.
Osisko ended the first quarter with 65.7 million in cash and net debt has now been reduced to just over 40 million after the company continued to pay down its revolving credit facility during the period.