MAVERIX METALS ANNOUNCES RECORD REVENUE FOR THE SECOND QUARTER 2020

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Overig advies 13/08/2020 14:37
August 13, 2020, Vancouver, British Columbia – Maverix Metals Inc. (the “Company” or “Maverix”) (NYSE American & TSX: MMX) is pleased to announce its operating and financial results for the second quarter ended June 30, 2020.
All amounts are in U.S. dollars unless otherwise indicated.
Second Quarter 2020 Highlights
• Record revenue of $11.0 million;
• Record cash flow from operating activities, excluding changes in non-cash working capital, of $8.5 million1;
• Attributable gold equivalent ounces sold of 6,4121;
• Average cash cost per attributable gold equivalent ounce sold of $139, resulting in cash operating margins of $1,572 per ounce1;
• Record net income of $3.1 million; and
• Received $15.6 million in cash proceeds from the Pan American Silver warrant exercise.
Dan O’Flaherty, CEO of Maverix, commented, “Maverix had a strong quarter with record revenue of $11.0 million, a significant increase of 57% compared to Q2 2019, demonstrating the strength and diversity of our asset portfolio despite some of our assets being affected by the impacts of the COVID-19 pandemic. With the rising gold price environment, we are looking forward to the results for the second half of the year and we continue to pursue opportunities to grow our portfolio and increase shareholder value.”
Summary of Quarterly Results
Quarter Ended
(in thousands of USD, except for Attributable Gold Equivalent ounce and per share amounts)
June 30, 2020 June 30, 2019
Statement of Income and Comprehensive Income
Royalty revenu $7,784 $ 4,418
Sales $ 3,187 $ 2,573
Total revenu $ 10,971 $ 6,991
Cash flow from operating activities $ 6,616 $ 5,343
Net income $ 3,076 $ 610
Basic earnings per share $ 0.03 $ 0.01
Dividends declared per share $ 0.01 $ 0.00
Non-IFRS and Other Measures1
Adjusted net income $ 3,010 $ 831
Total Attributable Gold Equivalent ounces sold 6,412 5,359
Average realized gold price per Total Attributable Gold Equivalent ounce sold
$ 1,711 $ 1,305
Average cash cost per Total Attributable Gold Equivalent ounce sold
$ 139 $ 156
Cash flow from operating activities, excluding changes in non-cash working capital $ 8,479 $ 4,050

Dividend
The quarterly cash dividend of US$0.01 per common share will be paid on or about September 15, 2020, to shareholders of record as of the close of business on August 31, 2020.

For complete details please refer to the Condensed Consolidated Interim Financial Statements and associated Management Discussion and Analysis for the quarter ended June 30, 2020, available on
https://maverixmetals.com/site/assets/files/3779/mmx_nr_08-13-20.pdf



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