New Mine Start-ups and Acquisitions
(in U.S. dollars unless otherwise noted)
TORONTO, Aug. 13, 2024 /CNW/ - "Franco-Nevada benefited from record gold prices in the quarter and realized higher revenues and cash from operations compared to Q1 2024," stated Paul Brink, CEO. "However, our year over year results were lower without the contribution from Cobre Panama and due to lower production at Candelaria and Antapaccay. Results for the second quarter include a catch-up of higher tax rates due to tax measures enacted in response to the OECD's Global Minimum Tax initiative. In the second half of the year, we expect stronger contributions from Candelaria and growing contributions from Tocantinzinho, Greenstone and Salares Norte which have all recently commenced production. We expect to be at the lower end of our GEO guidance range, taking into account lower relative prices from our other commodities. We are pleased to have added two potentially long-life assets to the portfolio subsequent to the quarter: a gold stream on SolGold's Cascabel copper-gold development project in Ecuador and an existing royalty on Newmont's Yanacocha operations in Peru."
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