Elemental Royalties Reports Record Third Quarter 2021 Revenue and Operating Cash Flow
For more details, please refer to the financial statements and the associated management report for the three and nine months ended.
“We are also delighted to see operator-funded exploration efforts begin to uncover the value of our portfolio with the announcement of
Wahgnion produced 34 koz of ounces of gold in the third quarter and is positioned to meet the lower end of the 2021 production forecast of 140,000 to 155,000 ounces of gold at an AISC of
At Amancaya, the challenges of the quarter saw a total of 208 attributable GEOs sold in the third quarter, offering Elemental
Mercedes produced 9,722 ounces of gold in the third quarter. A substantial development program is underway to increase access to several ore bodies, with gold production on track to reach 30,000 to 35,000 ounces for the post-acquisition period on
Record quarterly revenue of
Record 1,062 attributable ounces of gold equivalent1 (âGEOâ) sold in the third quarter of 2021 and 2,385 attributable ounces of gold equivalent sold during the nine months ended
Record cash flows from operations of
Record Adjusted EBITDA1 of
Net loss of
2021 forecast revised to 3,400 – 3,800 GEO due to revised production forecast at Amancaya during the quarter.
Organic growth expected in 2022 with a full year of Karlawinda sales and the Mercedes royalty payable from
Cash and cash equivalents of
In 2021, Elemental plans 3,400 to 3,800 attributable GEOs from its existing portfolio, with over 90% of expected revenues coming from gold and silver production. The revised GEOs for 2021 follow Austral’s updated production guidelines published in
Elemental expects revenue growth to continue in 2022, with a full year of royalty revenue from Karlawinda and the first revenue from Mercedes expected in the third quarter of 2022.
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Email: [email protected]
Elemental is a gold-focused royalty company listed on the TSX Venture Exchange in
Caution Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined by applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terms such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, ” anticipate â,â believe â,â continue â,â plans âor similar terminology.
Forward-looking statements and information include, without limitation, statements regarding the future growth and development of the Company. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions which, although deemed reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond Elemental’s ability to control or predict, which may cause Elemental’s actual results, performance or achievements to differ materially from those. expressed or implied. thus, and are developed based on assumptions regarding those risks, uncertainties and other factors set forth herein, including, but not limited to: the requirement for regulatory approvals and third party consents, the impact general business and economic conditions, the lack of control over mining operations from which Elemental will receive royalties, including risks related to international operations, government relations and environmental regulations, risks inherent in exploration and development mining properties; uncertainties related to the interpretation of exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not meet Elemental’s expectations; accidents, equipment failures, title issues, labor disputes or other difficulties or unforeseen interruptions of operations; fluctuating metal prices; unforeseen costs and expenses; uncertainties about the availability and costs of necessary funding in the future; the uncertainty inherent in production and cost estimates and the potential for unforeseen costs and expenses, fluctuations in commodity prices; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Elemental assumes no obligation to update forward-looking information, except as required by applicable law. This forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary significantly. Therefore, readers are advised not to place undue reliance on forward-looking statements or information.