Franco-Nevada Corporation (NYSE:FNV) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET

Company Participants

Candida Hayden - Senior Analyst-IR
Paul Brink - President and CEO
Sandip Rana - CFO
Eaun Gray - SVP-Business Development

Conference Call Participants

Cosmos Chiu - CIBC
Tanya Jakusconek - Scotiabank
Derick Ma - TD Cowen
Heiko Ihle - H.C. Wainwright
Diego Tremiterra - Noster Capital Management

Operator

Good morning, and welcome to Franco-Nevada Corporation's Third Quarter 2024 Results Conference Call and Webcast. This call is being recorded on November 7 of 2024. At this time, all lines are in a 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. If you are joining by webcast, you may submit a written questions for the Q&A session at any time during this call by typing your question in the Q&A section of the webcast platform. [Operator Instructions]

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

Candida Hayden

Thank you, Chloe. Good morning, everyone. Thank you for joining us today to discuss Franco-Nevada's third quarter 2024 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'd 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

Thank you, Candida, and good morning. Our inflation-protected business model is working well. Record gold prices, we generated higher revenues, EBITDA and earnings in Q3 compared to Q2 this year. GEO sales were stable compared to Q2, although lower compared to Q3 2023 without the contribution from Cobre Panama. The quarter benefited from deliveries from the newly commissioned Tocantinzinho mine in Brazil and increased contributions from royalties on the recently completed Greenstone mine and the newly acquired Yanacocha royalty.