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Maverix Metals Inc (2)
Symbol MMX
Shares Issued 107,948,342
Close 2019-08-14 C$ 6.43
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Maverix Metals earns $819,000 in Q2 2019

2019-08-14 09:05 ET - News Release

Mr. Dan O'Flaherty reports


Maverix Metals Inc. has released its operating and financial results for the second quarter ended June 30, 2019.

Second quarter 2019 highlights:

  • Revenue of $9.3-million;
  • Cash flow from operating activities of $7.1-million;
  • Net income of $800,000, or one cent per share;
  • Attributable gold equivalent ounces produced of 6,425 ounces and attributable gold equivalent ounces sold of 5,359 ounces;
  • Average cash cost per attributable gold equivalent ounce sold of $208, resulting in cash operating margins of $1,536 per ounce;
  • Increased revolving credit facility with CIBC and National Bank to $75-million (U.S.);
  • Commenced trading on the New York Stock Exchange and Toronto Stock Exchange;
  • Welcomed new institutions as shareholders as a result of the Gold Fields Ltd. secondary placement.

"Maverix is thrilled to achieve another exciting milestone in the growth of the company this quarter, with the commencement of trading of our shares on both the NYSE American and TSX," commented Dan O'Flaherty, president and chief executive officer of Maverix. "As expected, our attributable gold equivalent production increased by 22 per cent, as compared to the first quarter of this year, and, as previously announced, we continue to forecast increasing attributable production over the balance of 2019."

2019 outlook

Maverix remains well positioned to achieve its guidance of attributable gold equivalent production sold of between 22,500 and 24,500 ounces for 2019, as a number of assets on which the company holds interests continue to ramp up production.

For complete details, please refer to the financial statements and associated management's discussion and analysis for the quarter ended June 30, 2019, available on SEDAR, EDGAR or on the company's website.

About Maverix Metals Inc.

Maverix is a gold royalty and streaming company. Maverix's mission is to provide its shareholders with significant low-risk leverage to precious metal prices and to increase underlying per-share value by continuing to grow its portfolio with acquisitions of high-quality royalties and streams that offer robust returns.

We seek Safe Harbor.

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